Ghana’s inflation continued its steady decline in December 2025, falling to 5.4 per cent year-on-year, the lowest rate recorded since the Consumer Price Index (CPI) was rebased in 2021, the Ghana Statistical Service (GSS) has announced.
Presenting the latest figures in Accra, Government Statistician Dr. Alhassan Iddrisu reported that the CPI for December 2025 stood at 261.7, up from 240.8 in December 2024. This translates into a significant moderation in price pressures over the year.
“On average, goods and services cost 5.4 per cent more than they did in December 2024,” Dr. Iddrisu said. He noted that this result is particularly significant as it marks the 12th consecutive month of declining inflation—down from 6.3 per cent in November 2025 and from 23.8 per cent in December 2024—a reduction of 18.4 percentage points within a year.
The sustained decline signals improving macroeconomic conditions and a firm shift toward price stability. On a month-on-month basis, inflation stood at 0.9 per cent in December, indicating a marginal increase in prices between November and December. Dr. Iddrisu explained that while short-term price movements persist, they are occurring within a stable and downward long-term trend.
Breaking down inflation components, the Government Statistician highlighted that price pressures eased across food, non-food, goods, and both locally produced and imported items, compared to both November 2025 and December 2024.
Food inflation recorded a sharp decline, falling to 4.9 per cent in December 2025, down from 6.6 per cent in November 2025 and 27.8 per cent in December 2024—a 22.9 percentage point drop over the year. “This matters because food accounts for about 43 per cent of household spending. Lower food inflation directly eases pressure on household budgets,” Dr. Iddrisu noted. However, food prices still rose by 1.1 per cent month-on-month, reflecting seasonal fluctuations.
Non-food inflation also fell significantly to 5.8 per cent in December, from 6.1 per cent in November and 20.3 per cent a year earlier, representing a 14.5 percentage point reduction. Month-on-month non-food prices increased by 0.6 per cent, indicating moderate short-term pressure.
“These trends demonstrate broad-based disinflation across both food and non-food categories, rather than improvements driven by a single component,” Dr. Iddrisu concluded.
BY TIMES REPORTER
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