Ghana’s consumer inflation slowed for the 13th consecutive month, dropping sharply to 3.8% year-on-year in January from 5.4% in December, signalling growing price stability in the economy.
Government Statistician Alhassan Iddrisu attributed the 1.6 percentage-point decline mainly to falling food prices, with food inflation easing to 3.9%. He noted that this is the lowest inflation rate since the Consumer Price Index was rebased in 2021, confirming Ghana’s steady return to macroeconomic stability.
The sustained disinflation bolsters the case for further monetary policy easing by the Bank of Ghana, which has already cut its policy rate by 12.5 percentage points since July last year. Inflation has now fallen below the central bank’s 8% target, even as the country continues its recovery from the worst economic crisis in decades under an IMF-supported programme due to end in August.
