Inflation falls to 9.4% in September, first single-digit in four years

Ghana’s consumer price inflation has dropped into single digits for the first time in four years, extending a nine-month streak of declines.

The year-on-year rate eased to 9.4% in September 2025, down from 11.5% in August.

According to the Ghana Statistical Service, the slowdown was largely driven by an ease in food prices, with food inflation falling to 11% in September from 14.8% the previous month.

Non-food inflation also edged down, easing to 8.2% from 8.7% in August.

The sustained decline means inflation has already beaten government’s full-year target, offering relief to households and businesses that have endured prolonged price pressures.

This trend strengthens prospects for monetary policy stability, exchange rate resilience, and improved consumer confidence heading into the final quarter of the year.

The last time Ghana enjoyed single-digit inflation was in August 2021.