"Inflation is falling steadily” – Gov't Statistician

Government Statistician, Dr. Alhassan Iddrisu has announced a sustained decline in Ghana’s inflation, describing the trend as a significant sign of economic recovery and price stabilization.

“Inflation is falling steadily,” he told journalists during a media briefing in Accra on Wednesday, following the release of the Consumer Price Index (CPI) data for August 2025.

According to the Ghana Statistical Service (GSS), inflation for August stood at 11.5%, down from 12.1% in July, marking the lowest inflation rate since October 2021 and the eighth consecutive monthly decline.

“This consistent decline—from 23.8% in December 2024 to 11.5% in August 2025—shows a real and sustained shift in prices. It signals that Ghana’s economic stabilization programme is delivering results,” Dr. Iddrisu emphasized.

Beyond the annual rate, the Month-on-Month (MoM) inflation rate for August was -1.3%, indicating that overall prices fell between July and August. Dr. Iddrisu noted that this monthly deflation offers direct relief to households, particularly in food and goods prices.

Food inflation fell to 14.8%, with food prices dropping by 2.5% within the month.

Non-food inflation also declined to 8.7% from 9.5% in July, with a slight 0.1% decrease in prices.

Goods inflation moderated to 13.9%, as goods prices fell by 1.6% between July and August.

Dr. Iddrisu explained that imported inflation is easing faster than local inflation, driven by a stronger cedi and reduced global cost pressures.

However, he cautioned that regional price variations remain significant, influenced by local supply chains, transportation costs, and market access.

The GSS has also begun publishing enhanced analytical reports, including:

Inflation decomposed into goods and services

Annual average inflation analysis

Contribution-based inflation insights

Infographics to improve public understanding

Policy recommendations for targeted responses

“We are not just reporting inflation figures; we are breaking them down to inform action across government, business, and households,” Dr. Iddrisu said.

Dr. Iddrisu acknowledged that while the numbers are encouraging, maintaining the momentum will require continued macroeconomic discipline and inclusive strategies to address regional disparities.

“Inflation is declining across all major categories—food, non-food, goods, local, and imported. This is real progress, but we must stay vigilant to ensure no part of the country is left behind,” he concluded.

Story by: Joshua Kwabena Smith