Inflation Drops Below 20%, Hits Lowest Mark Since 2022

Ghana’s inflation rate has dropped to the lowest level in more than three years.

Inflation dropped for a fifth straight month to 18.4% in May, compared with 21.2% in April.

Government Statistician Alhassan Iddrisu announced the drop in inflation to the press on June 4.

Ghana has been benefiting from a surge in the price of gold that has fueled a 44% rally in the cedi so far in 2025.

The cedi is still considered the world’s best-performing currency.

The gain, along with a decline in global oil prices, is helping rein in price growth that exceeded 20% for the past three years.

Iddrisu explained that the reduction in fuel prices at the pumps and the subsequent reduction in transport fares contributed the highest to the May inflation.

Food inflation rose 22.8% and non-food costs increased 14.4%, Iddrisu said.

At the regional level, the Upper West recorded the highest inflation of 38.1% while the Ahafo Region recorded the lowest inflation of 14.5%.

Source: YEN.com.gh