Data from Ghana Statistical Service indicates that headline inflation eased to 8.0% in October 2025, down from 9.4% in September, marking a continued slowdown in consumer price growth as food and non-food costs declined.
The latest Consumer Price Index (CPI) shows that both food and non-food inflation contributed to the downward trend. Food inflation fell to 9.5% from 11.0% in September, while non-food inflation declined to 6.9% from 8.2%, reflecting a broad-based easing of price pressures.
Month-on-month inflation also turned negative, with consumer prices dipping by 0.4% in October compared with a 0.9% increase the previous month. This indicates mild price deflation for the period, driven largely by lower food and service costs.
Inflation for locally produced items dropped sharply to 8.0% from 10.1%, while prices of imported goods eased to 7.8% from 7.4%, suggesting improving price stability across both domestic and external supply chains.
Regionally, inflation varied significantly, with Bono East recording the highest rate at 17.3%, while North East posted the lowest at 1.1%, pointing to persistent disparities in cost of living across regions.
The goods and services breakdown showed that inflation for goods dropped to 9.3% from 11.2%, and services inflation fell to 4.6%, signaling broad relief for consumers and businesses alike.
The October figures suggest that Ghana’s inflation trajectory is stabilizing after months of volatility, offering policymakers at the Bank of Ghana more room to maintain an accommodative stance while supporting economic recovery.
The sustained moderation in inflation could bolster consumer confidence and attract investment, though global commodity fluctuations and domestic energy prices remain potential risks to price stability.
