Ghana’s inflation rate has dropped to 11.5% in August from 12.1% in July 2025
Ghana’s inflation rate dropped for the eighth consecutive month in August 2025, easing to 11.5 percent from 12.1 percent recorded in July, according to the latest data from the Ghana Statistical Service (GSS).
The figure is already below the government’s end-year target of 11.9%, signaling firmer price stability in the economy.
On a year-on-year (YoY) basis, the GSS noted that the Consumer Price Index (CPI) rose to 255.7 in August 2025, up from 229.4 in August 2024, meaning that the average price of goods and services increased by 11.5% over the 12-month period.
The slowdown reflects a sustained disinflationary trend since the beginning of the year, driven largely by declines in both food and non-food inflation.
On a month-on-month (MoM) basis, inflation fell by 1.3%, indicating that prices actually decreased between July and August 2025.
Inflation declines further to 12.1% in July 2025
The August 2025 YoY inflation marks the lowest rate since October 2021, a 0.6 percentage point drop from July 2025, and a 12.3 percentage point decline from December 2024’s 23.8%.
Government Statistician Dr Alhassan Iddrisu speaking with journalists in Accra on September 3, 2025 noted that the consistent fall in inflation demonstrates a real and sustained shift in prices, providing optimism that the economy is moving toward greater price stability and predictability.
The Consumer Price Index (CPI) measures changes in the price of a fixed basket of goods and services purchased by households. Consumer price inflation is the rate at which these prices rise or fall, expressed as the percentage change in the CPI between two periods.
The CPI is measured monthly using data on 307 items from 8,337 outlets across 57 markets. These items are categorised into 13 divisions, 44 groups, 98 classes, and 156 sub-classes.
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