ACCRA, Jan 8 – Ghana’s consumer inflation fell to 5.4% year on year in December, down from 6.3% in November, extending a sustained disinflation trend to twelve consecutive months, according to data released by the Ghana Statistical Service.
Government statistician Alhassan Iddrisu said the decline reflected easing price pressures across most major components, with the sharpest slowdown coming from food and non-alcoholic beverages.
“This steady decline signals a sustained shift toward price stability and improving macroeconomic conditions,” Iddrisu said, noting that December’s reading marked the lowest inflation level since the consumer price index rebasing exercise in 2021.
Inflation stood at 23.8% in December last year, highlighting the scale of the recent moderation. The Bank of Ghana targets an inflation rate of 8%, with a tolerance band of plus or minus two percentage points.
The easing inflation comes as the West African gold, oil and cocoa producer continues to emerge from its most severe economic crisis in decades. Ghana’s economy expanded by 5.5% year on year in the third quarter of 2025, supported by improved performance in the agriculture and services sectors.
In December, the International Monetary Fund completed the fifth review of Ghana’s loan programme, unlocking an immediate disbursement of about $385 million and reinforcing confidence in the country’s macroeconomic stabilization efforts.
