Ghana's Inflation Falls to 13.7 Percent in June
(MENAFN) The Ghana Statistical Service (GSS) revealed on Wednesday that the country's inflation rate decreased to 13.7 percent in June, marking a significant 4.7 percentage-point drop from May's 18.4 percent.
"This is the sixth consecutive year-on-year decline in inflation and the lowest since December 2021, signaling that policies introduced to strengthen the economy are beginning to yield results," said GSS Government Statistician Alhassan Iddrisu during the agency's regular monthly briefing.
Iddrisu attributed the decline in inflation to a reduction in both food and non-food prices. Food inflation, compared to May, fell by 6.5 percentage points to 16.3 percent in June. Non-food inflation also saw a decrease, dropping by 3 percentage points to 11.4 percent.
The inflation rates for locally produced goods and imported items stood at 14 percent and 12.5 percent, respectively.
"The consistently slower rates of inflation we are seeing in recent times show that the underlying pressures driving inflation are easing. It is a clear signal of price stability and short-term price easing," Iddrisu emphasized.
He also highlighted that the appreciation of the local cedi has contributed to the moderation in inflation for imported items, and indirectly impacted the pricing of locally produced goods that rely on imported inputs.
A surge in global gold prices, combined with Ghana’s domestic gold purchase policies, has played a significant role in strengthening the local cedi. The currency gained at least 41.78 percent in value from January to the end of May 2025, according to data from the International Monetary Fund.
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