Ghana’s inflation eased for the eighth consecutive month in August, slowing to 11.5% from 12.1% in July, its lowest level since October 2021. The Ghana Statistical Service attributed the decline to easing food and non-food prices, Reuters reported.
The disinflation trend reflects stronger macroeconomic stability, aided by the cedi’s over 20% appreciation against the U.S. dollar this year and the Bank of Ghana’s historic 300 basis-point policy rate cut in July, which lowered the benchmark rate to 25%, as highlighted in Reuters’ coverage of the central bank’s decision.
Finance Minister Cassiel Ato Forson has expressed confidence that the country is on track to meet its year-end inflation target of 11.9% ahead of schedule, with some analysts projecting a possible single-digit reading before the close of 2025. Reuters noted that improved currency stability and falling import costs are reinforcing this outlook.
Economists caution, however, that the sustainability of Ghana’s rebound depends on stable global commodity markets and prudent fiscal discipline. Price shocks in food or utilities could still test the country’s progress toward disinflation, market observers emphasized in the reporting.
