Ghana’s annual consumer inflation eased to 9.4 percent in September, down from 11.5 percent in August, according to the Ghana Statistical Service. The reading marks the ninth consecutive month of decline and brings inflation to its lowest level since August 2021, Reuters reported.
Government statistician Alhassan Iddrisu said the moderation was largely driven by easing food prices, which have been the main source of upward pressure in recent years. He added that the broad-based slowdown reflects improving price stability and progress toward Ghana’s macroeconomic recovery.
The trend has given the Bank of Ghana space to ease monetary policy. In September, the central bank cut its benchmark interest rate by a record 350 basis points to 21.5 percent, citing sustained disinflation and a more favourable outlook. Officials described the decision as necessary to support growth while keeping inflation expectations anchored, Reuters noted.
Analysts welcomed the return to single-digit inflation, saying it could ease pressure on households, lower costs for businesses, and restore investor confidence. Still, they cautioned that Ghana’s ability to sustain the gains will depend on fiscal discipline, resilience in supply chains, and protection against external shocks such as commodity price volatility.
