Ghana’s inflation slowed for a fourth month in a row in April, to 21.2% year on year from 22.4% in March, the Ghana Statistical Service (GSS) has announced.
Government statistician Alhassan Iddrisu at a press conference on Wednesday, May 7, stated the latest decline was driven by a moderation in both food and non food inflation.
“Year-on-year inflation slowed to 21.2 per cent in April 2025 and this is largely driven by a moderation in both food and non-food prices, though food inflation remains elevated.”
Despite the annual slowdown, monthly inflation edged up to 0.8 per cent in April, from 0.2 per cent the previous month—an early sign of renewed upward price pressures, particularly within the food segment.
“On a month-on-month basis, food inflation increased, whilst non-food inflation was maintained,” Dr Iddrisu added.
Ghana’s economy has been battling persistently high inflation, with the rates above the central bank’s target of 8% with a margin of error of 2 percentage points either side.
Bank of Ghana governor Johnson Asiama said in March a tight monetary policy stance was needed to lower consumer inflation in the gold, oil and cocoa-producing West African nation.
He also announced a surprise rate hike, adding that its impact on inflation will be reassessed before the next rate meeting in May.
Finance Minister Cassiel Ato Forson said during his budget speech in March that steep spending cuts would allow Ghana to drive down inflation to 11.9% by the end of the year.