Ghana’s inflation rate continued to ease in December 2025, falling to 5.4 percent year on year and marking the 12th consecutive month of declining inflation, according to the Ghana Statistical Service (GSS).
This is the lowest inflation rate recorded since the Consumer Price Index (CPI) was rebased in 2021.
Presenting the figures in Accra, Government Statistician Dr. Alhassan Iddrisu said the CPI rose to 261.7 in December 2025 from 240.8 a year earlier, showing that price increases have slowed significantly over the past year.
“In practical terms, goods and services were 5.4 percent more expensive in December 2025 than in December 2024,” he explained.
“This reflects a major improvement from the 23.8 percent inflation recorded a year ago and confirms a steady return towards price stability.”
Inflation declined from 6.3 percent in November 2025, representing an 18.4 percentage point reduction over the year. Dr. Iddrisu noted that the sustained downward trend signals improving macroeconomic conditions.
On a month-on-month basis, inflation stood at 0.9 percent in December, indicating a modest increase in prices between November and December.
He said this suggests that while short-term price movements remain, they are occurring within a more stable overall environment.
Food inflation fell sharply to 4.9 percent in December 2025, down from 27.8 percent a year earlier.
Dr. Iddrisu highlighted that this decline is especially important, as food accounts for about 43 percent of household spending and has a direct impact on the cost of living.
However, food prices rose by 1.1 percent month on month, largely due to seasonal factors.
Non-food inflation also eased to 5.8 percent in December, from 20.3 percent in December 2024. On a monthly basis, non-food prices increased moderately by 0.6 percent.
The data showed broad-based easing across major categories, including locally produced and imported goods. Goods inflation declined to 5.8 percent, offering relief to consumers, as goods make up nearly three-quarters of the CPI basket.
Services inflation edged up slightly to 4.5 percent in December but remained well below its level a year earlier.
Overall, the December figures indicate sustained easing of price pressures across the economy, reinforcing confidence that Ghana is closing the year on a stronger and more stable inflation path.
