Ghana's Inflation Drops to 9.4%, First Single-Digit Rate Since 2021

Ghana's consumer price inflation has dropped to 9.4%, marking the first time it has fallen to a single-digit rate since August 2021. This decline in inflation, driven by a sharp moderation in food prices, signifies a significant milestone in the country's economic recovery.

The drop in inflation from September 2025 to August 2025 extends a streak of decline, surpassing the government's inflation target range of 6-10%. The Bank of Ghana had earlier projected that inflation would enter the target band, and the latest figures validate this forecast.

The Monetary Policy Committee (MPC) announced a 350 basis point cut in the benchmark policy rate in September to stimulate credit growth and support Ghana's economic recovery.