The rate of inflation declined to 21.2% in April, 2025 – its lowest level in eight months as a stronger cedi has helped curb import-related price pressures.
The latest figure marks a slight improvement from the 22.4% recorded in March and reflects the fifth consecutive month of disinflation in 2025.
This means consumer prices fell by 0.8% month-on-month during the period under review
Both food and non-food inflation moderated during the period, contributing to the downward trend.
Food inflation slowed to 25.0% in April from 26.5% in March, while non-food inflation decelerated to 17.9% from 18.7%.
“The Consumer Price Index (CPI) for April 2025 was 258.6, up from 213.3 recorded in April 2024. This represents a year-on-year inflation rate of 21.2%, meaning that the general price level in April 2025 was 21.2% higher than in April 2024. This marks a 1.2 percentage point decrease from the previous inflation rate of 22.4%, indicating that inflation slowed by 1.2 percentage points over the period. Encouragingly, this is the fifth consecutive time that inflation has declined”, he said.
Market analysts had projected a further slowdown in Ghana’s inflation for April driven by relatively stable pump prices and a steadier cedi.
A report by Databank Research anticipated that the disinflation trend will persist, supported largely by improved food supply dynamics.
However, on the broader outlook, the report warned that sustaining this downward momentum will hinge on monetary policy decisions.
It cautions that any premature interest rate cut—particularly at the upcoming May 2025 meeting—could reverse the gains, despite the policy rate having been raised to 28 percent in March.
“These marginal drops indicate a balanced contribution from both sectors of the consumer basket”, the Government Statistician added.
