Ghana’s food inflation decelerated to 25.0% year-on-year in April 2025, down from 26.5% in March, while non-food inflation edged slightly lower to 17.9% from 18.7%, according to data released by the Ghana Statistical Service on Tuesday. The figures reflect a continued easing of headline inflation, though underlying price pressures remain evident.
On a monthly basis, food prices rose 0.9%, reversing a 0.2% decline in March. Non-food prices recorded a 0.7% month-on-month increase, matching the previous month’s pace. The divergent dynamics suggest food remains the more volatile component of Ghana’s inflation basket.
The national inflation rate slowed to 21.2% in April, marking the fifth consecutive monthly decline from a recent peak, and indicating tentative success in ongoing monetary and fiscal stabilization efforts. The Consumer Price Index (CPI) rose to 258.6, up from 256.5 in March.
Despite the moderation, key food categories, including tubers, plantains, and vegetables, continue to exert upward pressure due to seasonal and supply-chain factors. These items carry significant weight in the CPI basket, amplifying their impact on the headline rate.
Citing commodity spikes in prices for items, volatility in food inflation remains a critical concern, which requires stakeholders to monitor food markets closely and expedite agricultural transformation initiatives under the government’s Agriculture for Transformation Programme.
The Statistical Service also spotlighted regional disparities, with the Upper West Region posting the highest food inflation rates, contributing to a regional inflation peak of 37.1%. The Volta Region recorded the lowest at 18.3%.
The continued downward trend in non-food inflation suggests improving stability in sectors such as transport, housing, and utilities, areas more directly influenced by exchange rate movements and energy costs.
It is however important that businesses pass easing input costs on to consumers, particularly in food-related sectors. As Ghana approaches the mid-year budget review, inflation dynamics, especially food price volatility, are expected to weigh heavily on fiscal and monetary policy decisions.
