By Kwame Mensah, African Business Correspondent
Ghana’s consumer inflation has dropped to 3.8% in January, marking the lowest level since the rebasing of the consumer price index in 2021. This milestone extends a 13-month streak of disinflation, according to figures released by the Ghana Statistical Service.
Month-on-month, prices rose by just 0.2%, reflecting broad declines across both food and non-food categories. Food inflation eased to 3.9% year-on-year, while non-food prices slipped by 0.4% compared to December.
Analysts attribute this steady decline to a stronger cedi, reduced import costs, and improved food supply chains. Over the past year, Ghana has also tightened monetary policy and implemented fiscal reforms under its International Monetary Fund programme, measures that have reinforced economic stability.
As one of the world’s leading producers of gold and cocoa, Ghana is gradually emerging from one of its most severe economic crises in decades—a period marked by surging prices, debt restructuring, and IMF-backed recovery efforts.
The easing inflation is expected to reduce financial strain on households and businesses, though policymakers remain cautious about sustaining this progress in the months ahead.
