AfricaAfrica PoliticsBusiness AfricaNews

Ghana’s Inflation Eases to 23.5% in January 2025 After Months of Increases

Accra, Ghana – February 2025 – Ghana’s inflation rate has declined to 23.5% in January 2025, marking a slight 0.3 percentage point drop from the 23.8% recorded in December 2024. This follows four consecutive months of rising inflation, though the figure remains well above the government’s 2024 year-end target of 15%.

Food and Non-Food Inflation Trends

Despite the overall decline in inflation, food inflation continues to rise, increasing from 27.8% in December to 28.3% in January. Meanwhile, non-food inflation fell, dropping from 20.3% in December to 19.2% in January, contributing to the overall slowdown.

Government Statistician’s Analysis

Speaking on the latest figures, Government Statistician Professor Samuel Kobina Annim highlighted the significance of the disinflation:

“In January 2025, general price levels of goods and services went up by 23.5% compared to the same period last year. This indicates a disinflation as the rate of inflation has slowed down by 0.3 percentage points from the 23.8% recorded in December 2024 to 23.5% in January 2025.”

Economic Outlook

While the decline in non-food inflation offers some relief, the persistent rise in food prices remains a concern. The government will likely need to strengthen policy interventions to bring inflation closer to its medium-term targets, especially as global economic conditions and domestic supply chain challenges continue to impact price stability.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button