Ghana wrapped up 2025 with a further easing of price pressures as inflation dropped to 5.4 per cent in December, extending the country’s disinflation streak to 12 consecutive months.
Figures released by the Ghana Statistical Service (GSS) show the December rate declined from 6.3 per cent recorded in November, signalling continued improvement in price stability toward the end of the year.
Presenting the data in Accra, Government Statistician Dr Alhassan Iddrisu said the Consumer Price Index rose to 261.7 in December 2025, up from 240.8 in December 2024, but at a much slower pace than earlier in the year.
“This means that, on average, goods and services cost 5.4 per cent more than they did in December 2024,” Dr Iddrisu explained.
“This result is significant because inflation has now declined for 12 consecutive months. It fell from 6.3 per cent in November 2025 and from 23.8 per cent in December 2024, representing a reduction of 18.4 percentage points within a year.”
He described the trend as a clear indication that the economy was emerging from a prolonged period of high inflation and moving steadily toward price stability.
On a month-on-month basis, inflation stood at 0.9 per cent in December, pointing to relatively mild price increases between November and December.
According to Dr Iddrisu, this suggests that short-term price changes are now occurring within a broader, stable downward trajectory.
A detailed breakdown of the data showed that inflation slowed across major categories, including food and non-food items, goods and services, as well as locally produced and imported products, compared with both November 2025 and December 2024.
Food prices played a major role in the overall decline, with food inflation falling sharply to 4.9 per cent in December, down from 6.6 per cent in November and 27.8 per cent a year earlier — a year-on-year drop of 22.9 percentage points.
“This matters because food accounts for about 43 per cent of household spending.
Lower food inflation directly eases pressure on household budgets,” Dr Iddrisu noted.
The sustained moderation in inflation is expected to provide some relief to households and businesses as the country enters 2026, following a year of steady declines in consumer price increases.
