Ghana Inflation Rate at 2022-Lows of 18.4%

2025-06-04 10:57 By Luisa Carvalho 1 min. read

Ghana's annual consumer inflation moderated for the fifth month to 18.4% in May 2025, reaching the lowest point since February 2022, mainly supported by a stronger currency.

Ghana, the largest gold producer in Africa, has seen its currency, the cedi, appreciate by over 30% this year, making it the world’s top-performing currency, buoyed by a surge in gold prices.

Price growth slowed for both food (22.8% vs 25% in April) and non-food products (14.4% vs 17.9%).

On a monthly basis, consumer prices rose by 0.7% in May.



News Stream
Ghana Inflation Rate Quickens to 3.4% in April
Ghana’s annual inflation rate inched up to 3.4% in April 2026 from 3.2% in March. Non-food inflation accelerated to 4.2% from 3.9%, largely on account of fuel prices, while food and non-alcoholic beverage inflation eased to 2.2% from 2.3% in March. On a monthly basis, the CPI rose by 1%, the strongest increase since February 2025, after a 0.1% increase the month before.
2026-05-06
Ghana Inflation Rate Continues to Slow
Ghana’s annual inflation rate eased to 3.2% in March 2026 from 3.3% in February, sustaining a 15-month downward trend. This was the lowest reading since the 2021 rebasing, as the cedi has maintained stability, helping to curb price growth. Prices moderated slightly for both food (2.3% vs 2.4% in February) and non-food products (3.9% vs 4%). Inflation for domestically produced goods rose to 4.9% in March from 4.5% in February. Meanwhile, prices for imported goods fell by 0.6%, after a 0.6% rise in February, likely reflecting favorable exchange rate effects. On a monthly basis, the CPI rose by 0.1%, after increasing by 0.8% in the previous month.
2026-04-01
Ghana Inflation Rate Falls to Near 3-Decade Low
Ghana’s annual inflation rate fell to 3.3% in February 2026 from 3.8% in January, marking the 14th consecutive month of slowing price growth. This was the lowest reading since the 2021 rebasing, amid the ongoing strength of the cedi. The food inflation rate fell to 2.4% from 3.9% in January, while non-food price growth accelerated to 4% from 3.9%. On a monthly basis, the CPI rose by 0.8%, after a 0.2% increase in the previous month.
2026-03-04