Ghana’s inflation rate drops to 23.5% in January 2025

Ghana’s inflation rate eased to 23.5% in January 2025, marking a slight decline after four consecutive months of rising inflation.

The decline follows the government’s failure to meet its 2024 year-end inflation target of 15%, with inflation climbing to 23.8% in December 2024, up from 23.0% in November.

Despite the overall slowdown, food inflation remains high, increasing to 28.3% in January 2025 from 27.8% in December. In contrast, non-food inflation dropped to 19.2% from 20.3% in the previous month.

Providing further insights, Government Statistician Professor Samuel Kobina Annim explained:“In January 2025, general price levels of goods and services went up by 23.5%. This indicates disinflation, as the rate of inflation has slowed down by 0.3 percentage points from the year-end 2024 figure of 23.8% to 23.5% for January 2025.”

While the slight decline in inflation offers some relief, rising food prices continue to be a concern for households and policymakers.