Ghana Records 11 Months Of Inflation Fall

The Ghana Statistical Services (GSS) has announced that the inflation rate has declined for the 11th consecutive month this year.

The latest is the 6.3% recorded in November 2025, the lowest rate after the rebasing of the Consumer Price Index (CPI).

In January this year, inflation stood at 23.5%; February was 23.1%; March had 22.4%; while April and May recorded 21.2% and 18.4%, respectively.

For June, July and August, inflation levels were 13.7%, 12.1% and 11.5% in that order. September recorded 9.4% – a single-digit inflation, followed by a further decline to 8.0 in October.

The fall from double-digit inflation in January, down into single digits from September to November, reflects a strong disinflation trend for 11 months straight.

The Ghana Statistical Service said that the figures indicate that the domestic price conditions and external market conditions are both stabilising.

Addressing a news conference on Wednesday, December 3, 2025 the Government Statistician, Dr Alhassan Iddrisu, indicated that the sustained decline signals improving domestic price conditions and more stable external market conditions, with both food and non-food prices easing.

BREAKDOWN

The Government Statistician, Dr Alhassan Iddrisu, breaking down the November figures said that the top five, out of ten contributors, came from food and non-food categories.

“In fact, the top five contributors are charcoal, which contributed 9.2% to the overall inflation of 6.3%; herrings, which contributed 7.6% to the overall inflation of 6.3%; green plantain, which contributed 6.8%; cinema and cultural services, which contributed 5.7%; and ginger, which contributed 5.4%,” he said.

Dr Alhassan Iddrisu continued that “If we take these five items alone, they contributed 35% to the overall November 2025 inflation of 6.3%.

And if we take the top ten items, which, in addition to the five I’ve mentioned, will include onions, cooked rice, accommodation (and I’m talking about hotels), vegetable oil and then yams. If we take all of these ten together, they contributed 51.1% to the overall inflation of 6.3% in November 2025.”

HIGHEST

The GSS boss told journalists that the top five highest inflation items in November 2025 were ginger, which recorded an inflation rate of 94%; followed by charcoal, which recorded an inflation rate of 59.9%; green plantain, 58.8%; cinema and cultural services, 46.4% and avocado, 43.5%.

Putting all of these together, they contributed 37.7% altogether to the overall inflation rates.

BOTTOM

The five items that recorded the lowest inflation are garden eggs, which actually saw price declines of 58.8% between November 2024 and November 2025.

This was followed by cocoyam leaves, which saw price declines of 57% between November 2024 and November 2025, and then pawpaw, which saw price declines of 51.6%, followed by fresh tomatoes, a 47.1% price decline, and then cabbage, a 44.1% price decline.

According to the GSS, other items that saw price declines between November 2024 and November 2025 include fresh okra, fried fish, fresh green pepper, grapes, and shelled groundnuts.

These five items mentioned, which registered the lowest inflation rates altogether, contributed negative 0.2% to the 6.3% inflation.

IMPACT

Giving some highlights, Dr Alhassan Iddrisu indicated that it was a good time to “budget carefully, avoid unnecessary spending, and set aside whatever savings are possible.”

He explained that price stability helps households stretch their incomes further and make more predictable financial decisions.

For businesses, he said the inflation fall was an ideal moment to strengthen operational efficiency and urged the governments to continue with the “fiscal discipline”, as that is very essential.

 

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