Inflation Eases for Fifth Consecutive Month, Hits 21.2% in April 2025
Ghana’s headline inflation has recorded a fifth consecutive monthly decline, easing to 21.2% in April 2025 from the 22.4% recorded in March 2025, according to the latest data released by the Ghana Statistical Service (GSS).
The 1.2 percentage point decline in year-on-year inflation was largely attributed to a moderation in both food and non-food prices, although food inflation remained elevated at 25%, underscoring persistent pressures in the food sector.
Despite the decline in annual inflation, month-on-month inflation rose slightly by 0.2% in April, signaling renewed price pressures during the month under review.
Announcing the figures, Government Statistician, Dr Alhassan Iddrisu stated, “Year-on-year inflation slowed to 21.2% in April 2025 and this is largely driven by a moderation in both food and non-food prices, though food inflation remains elevated. On a month-on-month basis, food inflation increased, whilst non-food inflation was maintained.”
The inflation data also showed a divergence between inflation for locally produced and imported items. Year-on-year inflation for locally produced goods stood at 22.7%, compared to 17.7% for imported items. A similar trend was observed in the month-on-month inflation figures, with inflation for local goods being double that of imports.
The persistence of higher inflation in local goods, particularly food items, continues to pose challenges for consumers and policymakers alike, even as overall price growth shows signs of deceleration.
The April inflation data will likely inform the Bank of Ghana’s next monetary policy decision, as the central bank continues efforts to anchor inflation expectations and support macroeconomic stability.
