Ghana’s inflation rate declined to 23.5% in January 2025, marking a slight slowdown after four consecutive months of rising inflation.
This follows the government’s inability to meet its 2024 year-end inflation target of 15%, as inflation surged to 23.8% in December 2024, up from 23.0% in November.
Food Inflation Remains a Concern
Despite the overall slowdown, food inflation continues to drive price increases, rising from 27.8% in December 2024 to 28.3% in January 2025.
Meanwhile, non-food inflation maintained its downward trajectory, dropping from 20.3% in December to 19.2% in January.
Government Statistician’s Explanation
Providing insights into the figures, Government Statistician Professor Samuel Kobina Annim noted:
“In January 2025, general price levels of goods and services went up by 23.5%. Between January 2024 and January 2025, general price levels increased by 23.5%.
This indicates disinflation, as the rate of inflation has slowed by 0.3 percentage points, from 23.8% in December 2024 to 23.5% in January 2025.”
The latest figures suggest a potential easing of inflationary pressures, but food price volatility remains a major concern for consumers and policymakers.
