Ghana’s disinflation trend strengthened in November as headline inflation fell for the eleventh consecutive month. Announcing the new figures, the Government Statistician, Dr. Alhassan Iddrisu, said the “Year-on-Year inflation rate slowed for the 11th consecutive month to 6.3% in November from 8.0% in October,” describing it as one of the most pronounced sustained declines in price growth in recent years.
The continued moderation was driven largely by a sharp fall in food inflation, even though several essential goods and non-food services continued to exert pockets of upward pressure across the consumer basket. Food and Non-Alcoholic Beverages, which carry the largest weight in the index, recorded a significant deceleration, dropping from 9.5 %in October to 6.6 %in November. Despite this slowdown, the category remained the biggest contributor to overall inflation because of its dominant share in household spending.
Within the food category, price pressures eased broadly, although a few key items continued to rise steeply. Charcoal, plantain, onions, and ginger all registered notable year-on-year increases, with ginger recording the highest individual inflation rate at 94%. The price of charcoal also surged by nearly 60 %, maintaining its position as one of the strongest drivers of inflation at the item level.
Non-food inflation presented a more mixed picture. Housing, water, electricity, gas, and other fuels maintained one of the highest annual inflation readings at 13.2%, making it the most significant non-food driver during the period. Personal care and miscellaneous services also recorded a strong month-on-month rise of 3.5%, reflecting upward adjustments in hygiene and grooming products. Clothing and footwear saw a moderate increase driven by shifts in demand and import cost dynamics.
Dr. Alhassan Iddrisu noted that “transport stands out as the only strong counter-weight,”. Prices in the transport division fell by 4.8%year-on-year, helped by stable fuel costs and improved efficiency in transport operations. This decline offset some of the upward movements in other sectors and continued to play a key role in the broader disinflation trend.
The sustained slowdown signals a stabilising price environment supported by improved supply conditions, easing food prices, and policy interventions aimed at anchoring inflation expectations.
