Ghana inflation rate for February 2025 slows down by 0.4% to 23.1%

The inflation rate for Ghana for the month of February 2025 slows down by 0.4 percentage points to record 23.1 per cent year-on-year, according to a press release from the Ghana Statistical Service (GSS) copied to Ghana Business News.

The rate for the month of January was 23.5 per cent.

The release indicates that year-on-year rate of inflation further slows down by 0.4 percentage points and month-on-month also further decreases by 0.4 percentage points in February 2025.

“Both year-on-year and month-on-month record disinflation for the second consecutive month in 2025, though marginally. Despite the further slow down in the rate of inflation in February 2025 (23.1%), it is the third highest in the last ten months as it levels up with the rate in May 2024,” it added.

It notes that the overall month-on-month inflation also records a third consecutive month of a decline by halving the rate of inflation recorded in November 2024, which was 2.6 per cent.

According to the release, three divisions [Food and non-alcoholic beverages (28.1%); Alcoholic beverages, tobacco and narcotics (25.6%); and housing, water, electricity, gas and other fuels (24.3%)] recorded year-on-year rates of inflation higher than the overall inflation (23.1%).

“Only one division; food and non-alcoholic beverages (1.8%) recorded month-on-month inflation rate higher than the overall rate (1.3%),” it said.

Vegetables, tubers and plantains were the main drivers of both annual (4.3 percentage points of the overall annual food inflation of 28.1%) and monthly food inflation (0.2 percentage points of the overall monthly food inflation of 1.3%)

Annual inflation rates for vegetables, tubers and plantains of 45.5 per cent retains its dominance as the driver of food inflation.

The GSS explains that the difference between food (28.1%) and non-food inflation (18.8%) was 9.3 percentage points, adding that both year-on-year and month-on-month food inflation increase in February 2025 by 0.2 and 0.4 percentage points respectively. 

“Month-on-month food inflation (1.8%) is higher than non-food inflation (0.9%) by 0.7 percentage points. The difference between inflation for locally produced items (25.1%) and imported items (18.5%) is 6.6 percentage points,” it said.

However, it states that year-on-year food inflation decreases for the first time in the last five months though marginally, and year-on-year non-food inflation slows down for the fifth consecutive month though marginally.

By Emmanuel K Dogbevi

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