Inflation Falls to 11.5% in August, Surpasses Government Target

Ghana’s headline inflation dropped to 11.5% in August 2025, down from 12.1% in July, according to data from the Ghana Statistical Service (GSS).

This is the eighth straight month of decline and pushes inflation below the government’s end-year goal of 11.9%, signaling growing price stability. The August rate is also the lowest in nearly four years. On a month-to-month basis, overall prices decreased by 1.3%, offering households some relief from persistent cost-of-living pressures.

Government Statistician Dr. Alhassan Iddrisu, speaking on Wednesday, September 3, highlighted that food inflation eased to 14.8% from 15.1% in July, with food prices dropping by 2.5% during the month. Non-food inflation also fell to 8.7% from 9.5%, with a marginal 0.1% decline in prices.

Inflation for goods slipped to 13.9% from 14.2% in July, reflecting a 1.6% fall in goods prices. Imported inflation slowed more sharply than local inflation, aided by a stronger Cedi and easing global cost pressures.

However, regional disparities remain pronounced, influenced by variations in supply chains, transport costs, and local market conditions. Analysts caution that these gaps must be carefully managed to ensure balanced benefits across the country.

While the latest figures strengthen confidence in the government’s economic policies, concerns about economic growth and employment creation still linger.