Ghana's Inflation Dips to 13.7% in June—Lowest Since 2021
Upper West Records Highest Regional Inflation as Statistician Urges Localised Policy Responses
Ghana’s inflation rate has continued its downward trajectory, falling sharply to 13.7 percent in June 2025, marking the lowest level recorded since December 2021 and the sixth consecutive month of decline, according to new data released by the Ghana Statistical Service (GSS).
The drop from 18.4 percent in May was largely driven by easing food prices and a broad slowdown in consumer price increases across major sectors.
“For the first time in a while, we are recording a month-on-month deflation of 1.2 percent between May and June, suggesting a real and sustained shift in price levels,” said Government Statistician, Dr. Alhassan Iddrisu, at a press briefing in Accra.
■ Food and Non-Food Inflation Down
Food inflation saw a sharp decline of 6.5 percentage points, dropping from 22.8% in May to 16.3% in June. Non-food inflation also eased, falling from 14.4% to 11.4%, contributing to the overall cooling of inflationary pressures that have plagued Ghana’s economy in recent years.
The GSS noted that this disinflationary trend reflects waning cost pressures, improved supply conditions, and stabilizing market expectations—factors seen as critical for Ghana’s ongoing economic recovery.
■ Regional Gaps Persist
Despite the national improvement, regional disparities remain stark. The Upper West Region reported the highest inflation rate at 32.3%, largely driven by spikes in food and utility costs. On the other hand, the Bono Region recorded the lowest at 8.4%.
Dr. Iddrisu emphasized the need for granular, regional data to guide policy interventions that reflect localized challenges.
“A one-size-fits-all approach won’t sustain this progress. We need tailored policies to ensure that all regions benefit from the disinflationary momentum,” he stated.
■ Path to Single-Digit Inflation
The latest figures offer renewed optimism for policymakers, who are targeting single-digit inflation by early 2026. With month-on-month deflation and easing commodity prices, some analysts believe this target could be achieved ahead of schedule if current trends continue.
Businesses and consumers are expected to benefit from reduced cost pressures, while the government looks to consolidate gains in macroeconomic stability and fiscal management.
