" In 8 months, Ghana cuts inflation by half " – Mahama Tells UN

President John Dramani Mahama has highlighted Ghana’s progress in stabilising its economy, pointing to a sharp decline in inflation as evidence of his government’s achievements within the first eight months of his administration.

Speaking at the 80th Session of the United Nations General Assembly in New York on Thursday, 25 September 2025, President Mahama revealed that Ghana had reduced inflation from 23.8% in December 2024 to 11.5% by August 2025.

“In just eight months, we have achieved a significant reduction in inflation, from 23.8% in December 2024 to 11.5% in August 2025, restoring price stability for our citizens,” he told the Assembly.

The President emphasised that restoring economic stability had been a top priority of his government, given the hardships citizens had faced due to rising costs of living in recent years. He noted that the decline in inflation was beginning to ease household pressures, improve consumer confidence, and create a more predictable environment for businesses.

While acknowledging that challenges remained, President Mahama stated that the progress demonstrated his government’s commitment to sound economic management and bold reforms. “Our goal is to sustain this trajectory to ensure that Ghanaians not only see stability in the economy but also feel its impact in their daily lives,” he added.

The announcement comes at a time when international observers have been closely monitoring Ghana’s fiscal policies and economic recovery strategies. The reduction in inflation is expected to strengthen investor confidence and support ongoing efforts to revive key sectors such as agriculture, manufacturing, and energy.

President Mahama also used the platform to call for greater international cooperation to support African economies navigating global economic shocks. He stressed that fair trade, investment, and debt relief mechanisms were essential to sustaining the progress being made by nations like Ghana.