Inflation drops to 23.5% in January 2025 after four months of increases

Ghana’s inflation rate declined to 23.5% in January 2025, marking a slight drop after four consecutive months of rising inflation.

This comes after the government failed to meet its 2024 year-end inflation target of 15%, with inflation closing at 23.8% in December 2024, up from 23.0% in November.

Despite the overall slowdown, food inflation remains a major concern, increasing from 27.8% in December to 28.3% in January. On the other hand, non-food inflation continued to decline, dropping from 20.3% in December to 19.2% in January 2025.

Speaking on the latest figures, Government Statistician, Professor Samuel Kobina Annim, explained the trend:

“In January 2025, general price levels of goods and services went up by 23.5%. Between January 2024 and January 2025, the general price of goods and services increased by 23.5%. This indicates disinflation, as the rate of inflation has slowed by 0.3 percentage points from 23.8% in December to 23.5% in January.”

The decline in inflation offers some relief to consumers and businesses, though food prices remain a pressing issue.

Economic analysts have suggested that fiscal policies and monetary interventions will play a crucial role in sustaining the downward trend in the coming months.

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