The consumer price inflation (CPI) has officially fallen into single digits for the first time in four years, marking a major milestone in Ghana’s journey towards macroeconomic stability.
The year-on-year (YoY) inflation rate eased significantly to 9.4% in September 2025, down from 11.5% recorded in August 2025.
The September 2025 figure represents the ninth consecutive drop in inflation, extending a steady decline from the high of 23.8% in December 2024. According to the Ghana Statistical Service (GSS), the new rate is the lowest inflation since August 2021 and translates to a substantial 14.4 percentage points drop from the December 2024 peak.
The CPI for September 2025 stood at 258.0, up from 235.8 in September 2024, confirming the 9.4% YoY increase in the average price of goods and services. The Month-on-Month (MoM) inflation rate for September 2025 was a modest 0.9% increase over the August 2025 price level.
The sustained decline means the government has already surpassed its full-year inflation target, offering welcome relief to households and businesses that have struggled under prolonged price pressures. This trend strengthens prospects for monetary policy stability, exchange rate resilience, and improved consumer confidence as the country heads into the final quarter of the year.
The Government Statistician, Dr. Alhassan Iddrisu, noted that the development indicates a clear decline in the pressures that have driven inflation over the past months.
The slowdown was largely attributed to a significant ease in food prices:
- Food inflation dropped sharply to 11.0 percent in September, down from 14.8% the previous month.
- Non-food inflation also edged down, easing to 8.2 percent in September from 8.7 percent in August.
A breakdown by source shows that the moderation was effective across both domestic and imported items: - Inflation for locally produced items fell to 10.1 percent in September from 12.2 percent in August 2025.
- Imported items recorded a significantly lower rate of 7.4 percent for September, a drop from 9.5 percent in August 2025.
Despite the positive national average, the GSS data highlighted striking regional variations in the cost of living.
The North East Region registered the highest inflation rate at a striking 20.1%, which is more than double the national average of 9.4%. Conversely, the Bono East Region recorded the lowest inflation rate in the country at a mere 1.2%, illustrating a vast disparity in price changes across Ghana’s administrative regions.
Source:Lovinghananews.com
