The World Bank has projected Ghana’s inflation rate to hit 17.2% in 2025, according to its newly released Africa Pulse Report. While this remains above the government and the IMF’s target of 15%, the forecast signals a cautiously optimistic path toward macroeconomic stability over the medium term.
Looking ahead, the Bank anticipates a significant drop in inflation to 9.4% in 2026, followed by a further decline to 8.0% in 2027. This projected deceleration is part of a broader regional trend, where inflation pressures across Sub-Saharan Africa appear to be easing after years of economic turbulence fueled by global supply chain disruptions, currency depreciation, and fiscal imbalances.
Ghana is currently among 14 countries in the region, including Nigeria, Angola, Malawi, and Zimbabwe, still grappling with double-digit inflation. However, the World Bank expects this number to shrink to just six countries by 2027, indicating a continent-wide move toward monetary stability.
“Inflation across African economies is expected to converge towards target levels in the coming years,” the report noted, while also cautioning that risks remain. “Should protectionist trade measures gain traction globally, the disinflationary momentum could face setbacks.”
The broader Sub-Saharan region has seen inflation ease from a median of 7.1% in 2023 to 4.5% in 2024, with a projected slight uptick to an average of 4.6% between 2025 and 2027. The World Bank attributes this trend largely to tighter monetary and fiscal policies, improving currency stability, and the gradual resolution of global supply bottlenecks.
Yet, inflation variability remains high among countries, with several economies continuing to report divergent trends driven by structural weaknesses, policy missteps, or external shocks.
