Ghana’s inflation rate experienced a slight decrease, dropping to 23.1% in February 2025

The annual inflation rate of Ghana showed a slightly decline in February 2025, falling to 23.1 per cent from 23.5 per cent in January, representing a second consecutive month of downward trend.
Per the newest data publicly released by the Ghana Statistical Service (GSS), the decreasing trend was notably driven by a 1.8 percentage point reduction in food inflation.

During a press conference on 5th March 2025, Prof. Samuel Kobina Annim, Government Statistician, emphasized that the decline in food inflation had been stable over the course of the past four months.

Prof. Samuel Kobina Annim stated that “In recent four-month timeframe , you’ve seen a persistent decline in food inflation on a month-on-month basis, dropping by 2.0 percentage points between November 2024 and February 2025.”

Contrary to the downward trend, Prof. Annim indicated that the February annual inflation rate continued to be the third-highest recorded over the last ten months, highlighting the consistent economic challenges facing the country. Prof. Samuel Kobina Annim again said “For the third consecutive month, food inflation has contributed more than 50% to overall inflation, with its contribution rising from 51.0% in December to 53.6% in February.”

Food inflation for February 2025 stayed at 28.1 per cent, dropped slightly January from 28.3 per cent, showing a 1.8 per cent month-on-month decrease. As a result several food items still recorded price increases, including pulses, cooking bananas, tubers and vegetables (28.1 per cent), pre-made food and other food products (45.5 per cent), cereal products and cereals products (38.6 per cent), and seafood and fish (26.5 per cent).

Again, Non-food inflation also experienced a minimal decline, falling to 18.8 per cent in February from 19.2 per cent in January, symbolizing a 0.9% reduction.

As per the data from the Upper West Region, a higher regional inflation rate at 35.5 per cent was recorded, with food costs escalating rapidly to 49.8 per cent, making it the region most affected by price increments. The Savannah Region sequentially followed with a food inflation rate of 48.6 per cent. Volta Region also recorded the lowest inflation rate at 18.1 per cent, showing considerable regional inequalities in price movements.

As the downward trend in inflation provide a measure of relief, the continuous high food prices remain a major challenge.