Consumer confidence in Ghana has climbed sharply over the past year, reaching its highest point in nearly a year, as sentiment among households turns increasingly positive about the economy’s direction.
Figures from the Bank of Ghana’s Summary of Macroeconomic and Financial Data show a steady climb in the Consumer Confidence Index: from 81.2 in September 2024 to 86.1 in October and 90.2 in November. By February 2025, the index had broken the 100‑point threshold, signaling renewed optimism, and it continued to rise, hitting 103.6 in March before surging to 119.2 by June 2025.
The sharp improvement points to growing assurance among households that conditions are stabilizing. Confidence levels above 100 generally reflect optimism, and the consistent gains over the past ten months suggest that consumers feel more secure about their financial outlook.
Several developments in the broader economy appear to have supported this shift. Headline inflation, which stood at 23.8% in December 2024, eased steadily to 13.7% by June 2025. Food prices, which had surged as high as 27.8% late last year, cooled to 16.3%, giving families some breathing room at the market. Monthly inflation figures also moderated, with some months recording only minimal price changes or slight declines.
Non‑food inflation has followed the same path, dropping from 20.3% in December to 11.4% by June. With price pressures steadily easing across the board, the relief appears to have filtered through to households, lifting confidence to levels not seen since mid‑2024 and setting a brighter tone for the months ahead.
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