Ghana’s inflation rate fell to 6.3 per cent in November 2025, the lowest recorded since the 2021 rebasing of the Consumer Price Index (CPI), deepening the country’s disinflationary trajectory as it marked eleven consecutive months of sustained decline.
The Ghana Statistical Service (GSS) announced the latest figures at a briefing in Accra on Wednesday, with the Government Statistician, Dr Alhassan Iddrisu, describing the continued slowdown as evidence of broad-based stabilisation across the economy.
“Ghana’s inflation has dropped to 6.3% in November 2025, the lowest since the 2021 rebasing and the 11th straight month of decline,” Dr Iddrisu said. He emphasised that the improvement reflected easing pressures in both food and non-food categories, supported by improved domestic supply conditions, reduced fuel-related cost passthrough and stable exchange rate dynamics.
Food inflation posted one of the steepest declines, easing sharply from 9.5 per cent in October to 6.6 per cent in November. According to the GSS, the fall was driven by significant declines in inflation for vegetables, tubers, fish and fruits, categories that had previously exerted upward pressure on household budgets. The month-on-month food inflation rate rose marginally to 1.1 per cent following a dip in October, indicating a return to typical seasonal patterns.
Non-food inflation also softened, dropping from 6.9 per cent to 6.1 per cent, helped by continued declines in inflation for housing, electricity, clothing and transport-related services. Goods inflation fell from 9.3 per cent to 7.3 per cent, while services inflation slowed to 3.8 per cent from 4.6 per cent, reinforcing the view that cost pressures are dissipating across the entire CPI basket. The trimmed-mean inflation rate, which excludes extreme price movements, also declined to 6.2 per cent, signalling underlying price stability.
The disinflation was evident in both local and imported components. Inflation for locally produced items fell to 6.8 per cent from 8.0 per cent, while imported inflation dropped significantly to 5.0 per cent from 7.8 per cent, driven by softer global commodity prices and a relatively stable cedi. The GSS noted that the combined reduction illustrates a synchronised easing of inflation across essential household consumption groups.
Regional inflation trends showed wide divergence. Savannah Region recorded the lowest rate at -0.02 per cent, reflecting strong food availability and reduced price pressures in rural markets. In contrast, North East Region registered the highest inflation at 12.2 per cent, followed by Upper West and Northern Regions, where transport constraints and limited market access continue to influence pricing. Greater Accra maintained the highest contribution to national inflation, accounting for more than a fifth of total price pressures due to its large population and consumption size.
On a monthly basis, inflation stood at 0.9 per cent, reversing the 0.4 per cent decline recorded in October. According to the GSS, the uptick reflected price adjustments in specific non-food groups, including restaurants, personal care and miscellaneous goods and services.
The statistical service said the consistent downward trend points to a more predictable cost environment for households and businesses after years of volatility. Dr Iddrisu noted that monitoring efforts will continue to ensure the gains achieved since the inflation peak of 23.8 per cent in December 2024 are sustained.
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