Inflation drops to 9.4% in September, lowest rate since August 2021

Ghana’s annual inflation rate for September 2025 fell to 9.4%, down from the 11.5% recorded in August. This marks the country’s first single-digit inflation rate since August 2021 and represents a major milestone in efforts to stabilise the economy.

The Ghana Statistical Service (GSS) announced the figures at a press briefing led by the Government Statistician, Dr Alhassan Iddrisu. He explained that the decline was largely influenced by easing food prices, which have been a key driver of inflation in recent years.

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Food inflation dropped to 11% in September, compared with 14.8% in August 2025. Non-food inflation also fell slightly, from 8.7% in August to 8.2% in September. The decline was reflected in both locally produced and imported items. Inflation for locally produced goods eased to 10.1% from 12.2%, while imported goods saw a sharper fall from 9.5% in August to 7.4% in September.

The inflation figures varied significantly across the regions. The North East Region recorded the highest inflation at 20.1%, more than double the national average. This sharp contrast highlights the uneven nature of price pressures across the country. In contrast, Bono East registered the lowest rate at just 1.2%, well below the national average and the lowest among all regions.

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The drop in inflation has been welcomed as a sign of economic stability, with analysts suggesting it could ease cost-of-living pressures for households. However, they caution that sustained progress will depend on continued stability in food prices, global market conditions, and government fiscal management.