Government Statistician announces further drop in Ghana’s inflation to 6.3% in November

Ghana’s inflation rate has continued its downward trend, hitting 6.3% in November 2025, the lowest level recorded since the Consumer Price Index (CPI) was rebased in 2021.

The announcement was made by the Government Statistician, Dr. Iddrisu Alhassan, during the release of the latest CPI and inflation figures on Thursday.

According to Dr. Alhassan, the November outturn marks the 11th consecutive month of decline, reinforcing signs of a steadily stabilizing economy.

"Year-on-year inflation of 6.3% means prices today are, on average, 6.3% higher than they were in November last year,” he explained.

Month-on-month inflation stood at 0.9%, reflecting the price changes between October and November 2025.

Dr. Alhassan described the progress as a “major shift toward stability,” noting that inflation was as high as 23.8% in December 2024—representing a significant 17.5 percentage point drop within a year.

Food and Non-Food Inflation Ease

Food inflation fell sharply to 6.6%, down from 9.5% in October, although food prices still rose slightly by 1.1% month-on-month.

Non-food inflation also eased to 6.1%, compared to 6.9% in the previous month.

Goods inflation slowed to 7.3%, while services inflation dropped to 3.8%, with services recording a marginal 0.1% month-on-month price decline.

Goods continue to weigh heavily on overall inflation due to their large share of the CPI basket.

Imported and Locally Produced Items See Relief

Inflation for locally produced items decreased from 8.0% to 6.8%, while imported goods saw inflation fall more steeply from 7.8% to 5.0%.

Dr. Alhassan said the figures reflect easing domestic and global price pressures.

Regional Variations Persist

The North East Region recorded the highest regional inflation rate at 12.2%, despite experiencing a 1.5% drop in prices between October and November.

The Savannah Region posted the lowest rate at -0.02%, signifying slight year-on-year price reductions.

“These disparities often mirror differences in local supply conditions, transport costs, and market connectivity,” Dr. Alhassan noted.

Items Driving Inflation

Charcoal, smoked herring, green plantain, cinema and cultural services, and ginger were the top contributors to November inflation, accounting for 34.7% of the total.

Meanwhile, the items with the highest year-on-year inflation included ginger (94%), charcoal (59.9%), and green plantain (58.8%).

On the other hand, significant price reductions were recorded for garden eggs, cocoyam leaves, pawpaw, fresh tomatoes, and cabbage, which all saw price declines of between 44% and 58.8%.

Drivers of Declining Inflation

Dr. Alhassan attributed the ongoing slowdown to three main factors:

1. Declining food inflation,

2. Reduced cost pressures on imported goods, and

3. Broad easing across goods and services sectors.

“These developments are helping stabilize prices for households and businesses across the country,” he said.

Recommendations for Government, Businesses, and Households

The Government Statistician urged government to maintain fiscal discipline and invest in stabilizing food supply chains, particularly through improved storage, irrigation, and transport infrastructure.

He encouraged businesses to channel the benefits of lower inflation into efficiency improvements and reduced waste, while passing savings onto consumers.

Households were advised to take advantage of the current stability to strengthen budgeting and savings habits.

Dr. Alhassan reaffirmed the Ghana Statistical Service’s commitment to delivering timely and credible data.

"Our goal is to ensure every policymaker, business leader, and citizen has access to the information needed to understand our economy and plan confidently,” he concluded.

Story by: Joshua Kwabena Smith