Ghana Statistical Service Launches First Annual Inflation Report, Unveils Key 2025 Price Trends
Credit: CNR
The Government Statistician, Dr. Alhassan Iddrisu, has described Ghana’s inflation performance in 2025 as “real progress,” while cautioning that the cost of living remains high and continues to strain households.
Speaking at the launch of the Ghana Statistical Service’s first Annual Inflation Report in Accra, Dr. Iddrisu said the new publication marks a shift in how inflation data is presented, moving beyond monthly figures to a deeper analysis of price movements and their impact on the economy.
He explained that the report is designed to answer three key questions: what happened to prices in 2025, what drove those changes, and what they mean for livelihoods and economic planning.
“Inflation is not just a number; it reflects the reality of everyday life. It determines whether a worker’s salary can feed a family, whether businesses can plan with confidence, and whether government policies are working to improve people’s lives,” he said.
According to the report, inflation declined steadily throughout 2025, recording 12 consecutive months of decline. The annual average inflation rate fell to 14.6 percent in 2025, down from 22.9 percent in 2024.
Despite this improvement, Dr. Iddrisu stressed that price levels remain elevated.
“Lower inflation does not mean lower prices. Prices are still high; they are simply rising more slowly,” he noted.
The report identifies food as the dominant driver of inflation, accounting for more than 50 percent of the total inflation rate. Dr. Iddrisu said this underscores the central role of food prices in Ghana’s inflation dynamics.
He also revealed that nearly three-quarters of inflation in 2025 was driven by locally produced goods, indicating that inflationary pressures are largely domestic rather than imported. Goods overall accounted for about 80 percent of inflation, with essentials such as food, fuel, and housing leading the trend.
On regional disparities, the report showed significant variation across the country. The Upper West Region recorded the highest average inflation rate at 24.9 percent, while the Bono East Region posted the lowest at 10.9 percent.
“These differences matter because policies that work in Accra may not necessarily work in Wa,” he noted, stressing the need for policies that respond to regional dynamics.
He indicated that while lower inflation offers some relief to households and creates better planning conditions for businesses, maintaining price stability will require sustained policy discipline.
According to him, the data points to five key priorities: strengthening food systems and supply chains, maintaining fiscal and monetary policy coordination, addressing regional disparities, investing in domestic production and strengthening data systems for better decision-making.
Dr. Iddrisu emphasised that sustaining low inflation will be more challenging than reducing it, urging policymakers to remain committed to policies that support price stability and long-term economic growth.
