Inflation declines to 22.4% in March
The country’s year-on-year inflation rate slowed to 22.4 per cent in March 2025 from 23.1 per cent in February, the Ghana Statistical Service (GSS) has revealed.
On a month-on-month basis, inflation fell to 0.2 per cent in March from 1.3 per cent in February.
The Government Statistician, Professor Samuel K. Annim, who announced this in Accra yesterday, said food inflation was the primary driver of the March inflation rate.
Food inflation declined to 26.5 per cent in March from 28.1 per cent in February, and month-on-month, there was a deflation of -0.2 per cent in March.
He stated that for two consecutive months in 2025, the country had experienced a slowdown in food inflation.
The Government Statistician noted that vegetables, tubers, and plantains continued to be the dominant contributors to food inflation in March 2025.
Professor Annim further stated that non-food inflation declined marginally to 18.7 per cent in March from 18.8 per cent in February, with month-on-month non-food inflation rate in March stood at 0.7 per cent.
He said food and non-alcoholic beverages (26.5 per cent), housing, water, electricity, gas, and other fuels (25.1 per cent), as well as alcoholic beverages and tobacco (23.8 per cent), all recorded inflation rates above the national average of 22.4 per cent.
Moreover, Prof. Annim indicated that inflation for locally produced items fell to 24.0 per cent in March from 25.1 per cent in February, whereas inflation for imported items rose marginally to 18.7 per cent in March from 18.5 per cent in February 2025.
From a regional perspective, he disclosed that the Upper West Region recorded the highest inflation rate at 36.2 per cent—approximately twice that of the region with the lowest inflation rate in March.
Prof. Annim said Volta Region recorded the lowest inflation rate at 18.9 per cent.
BY KINGSLEY ASARE
