The current Consumer Price Index (CPI) report released by the Ghana Statistical Service (GSS) has reported that Ghana’s inflation rate declined to 22.4% in March 2025, down from 23.1% in February 2025, easing hikes in goods prices.
This marks a 0.7 percentage point drop in the annual inflation rate, indicating a slowdown in the rate at which prices of goods and services are increasing.
However, month-on-month inflation, which tracked price changes between February and March 2025, stood at 0.2%, compared to 1.3% in February.
This means that prices are rising at a much slower pace than before; while goods and services are still becoming more expensive, the rate at which prices are increasing has significantly slowed down.
People may feel some relief as the price hikes are less steep compared to previous months. Further, essential goods like food and household items may not see drastic price jumps within a short period, making it slightly easier for households to manage their expenses.
Nonetheless, the highest regional inflation rate was recorded in the Upper West Region (36.2%), while the Volta Region had the lowest inflation (18.9%).
Food inflation, which has been a major driver of overall inflation, saw a significant drop from 28.1% in February to 26.5% in March.
According to the report, inflation on locally produced items stood at 25.1%, while imported items recorded 18.5% inflation in February 2025.
Importantly, the drop in inflation is attributed to improved food supply, stabilization efforts by the central bank, and exchange rate stability.
However, external pressures, including global commodity prices and exchange rate fluctuations, could impact inflation trends in the coming months.
