Ghana’s inflation rate dropped to 5.4 percent year-on-year in December 2025, the lowest since the Consumer Price Index (CPI) rebasing in 2021 and marking the 12th straight month of decline, according to the Ghana Statistical Service.
Government Statistician Dr. Alhassan Iddrisu presented the data in Accra, noting the CPI reached 261.7 in December 2025, up from 240.8 a year earlier. “This means goods and services cost 5.4 per cent more on average than in December 2024,” he said. Inflation fell from 6.3 per cent in November 2025 and a much higher 23.8 per cent in December 2024, an 18.4 percentage point drop over the year—signaling improving macroeconomic conditions and a shift toward price stability.
Month-on-month, inflation rose a modest 0.9 per cent, reflecting short-term pressures within a broader downward trend.
Broad Disinflation Across Categories
Price pressures eased in food, non-food, goods, and both local and imported items compared to November 2025 and December 2024.
Food inflation plunged to 4.9 per cent annually (from 6.6 per cent in November and 27.8 per cent a year ago), a 22.9 percentage point yearly drop. It accounts for 43 per cent of household spending, directly easing budgets, though monthly food prices ticked up 1.1 per cent due to seasonal factors.
Non-food inflation eased to 5.8 per cent (from 6.1 per cent last month and 20.3 per cent last year), down 14.5 points annually, with a 0.6 per cent monthly rise.
Food subcategories like vegetables, cereals, fish, and meat all showed annual easing, despite some monthly fluctuations.
Goods inflation slowed sharply to 5.8 per cent (from 7.3 per cent in November and 23.1 per cent last December), a 17.3 point decline; goods make up nearly three-quarters of the CPI basket .Services inflation rose slightly to 4.5 from 3.8 per cent last month but remained far below 15.4 per cent a year ago (down 10.9 points), with a 0.9 per cent monthly increase.
Dr. Iddrisu emphasized the broad-based nature of the disinflation. The data underscores Ghana’s progress toward macroeconomic stability as 2025 ends.
Story by: Mercy Addai Turkson #ahotoronline.com