Ghana’s inflation charge has declined for the eleventh consecutive month, reaching its lowest stage in almost seven years, with annual inflation dropping to six.3% in November.
This was disclosed by Authorities Statistician Alhassan Iddrisu whereas talking to journalists on Wednesday in Accra.
BusinessTimes beforehand reported that Ghana’s inflation charge eased for the tenth consecutive month to eight.0% year-on-year in October 2025, from 9.4% in September.
Additional contributing to the downward development, meals inflation eased considerably to six.6% in November, in contrast with 9.5% recorded the earlier month.
Equally, non-food inflation moderated to six.1%, down from 6.9% in October, reflecting broad-based value stability throughout key client classes.
Analysts say the newest knowledge could create room for the Bank of Ghana to think about one other rate of interest minimize.
Extra insights
Analysts attribute the sustained decline largely to the strengthening of the Ghanaian cedi, powered by rising international costs of cocoa and gold.
Because the world’s second-largest cocoa producer and Africa’s main gold producer, Ghana has benefited from elevated export revenues, easing stress on its forex and decreasing import-related inflationary pressures.
With inflation now properly beneath the extent seen at the beginning of the 12 months, the newest knowledge provides renewed optimism for households, companies, and policymakers.
It additionally opens a possible window for the central bank to think about decreasing rates of interest—an motion that would stimulate borrowing, funding, and financial exercise as Ghana seeks to consolidate its restoration.
Economists might be watching keenly to see how the Bank of Ghana responds in its subsequent financial coverage assembly, particularly as international financial circumstances and home fiscal pressures proceed to evolve.
What you must know
In November, the Bank of Ghana introduced a discount in its benchmark rate of interest, decreasing it by 350 foundation factors to 18%, the third consecutive minimize, as inflation continues its fast decline and financial circumstances enhance.
“The prevailing excessive actual rates of interest supplied some scope to ease financial coverage to additional enhance the expansion restoration efforts,” the Governor of the Bank of Ghana, Johnson Asiama mentioned.
“The bank initiatives a continued steady inflation profile across the goal and properly into the primary half of 2026,” he added.
Finance Minister Cassiel Ato Forson, in his current price range presentation, reaffirmed the federal government’s dedication to fiscal consolidation because the nation prepares to exit its Worldwide Financial Fund (IMF) programme.
He projected a major price range surplus of 1.5% of GDP by 2026, with Ghana’s general fiscal deficit anticipated to slender from a projected 2.8% in 2025 to 2.2% in 2026. The federal government additionally forecasts financial progress of not less than 4.8% in 2026, up from an estimated 4% this 12 months.
