Ghana Inflation Falls to 9.4% in September, First Single-Digit Rate in Four Years
Ghana’s inflation rate has finally dropped into single digits for the first time in four years, marking a major relief for households and businesses across the country. According to the Ghana Statistical Service (GSS), consumer price inflation eased to 9.4% in September 2025, down from 11.5% in August. This milestone comes after nine consecutive months of steady declines, signaling that price pressures in the economy are beginning to stabilize.
The decline was largely driven by falling food prices, which have been a major source of hardship for many Ghanaians in recent years. Food inflation slowed to 11% in September, compared with 14.8% the previous month. Non-food inflation also eased slightly, dropping to 8.2% from 8.7% in August. This improvement means the country is already performing better than the government’s full-year inflation target, ahead of schedule.
For ordinary families, the numbers mean more than just statistics. Shoppers at local markets are beginning to feel some breathing space, as staples such as maize, rice, and fresh produce show signs of price stability. Small businesses, particularly in the retail and hospitality sectors, are also expected to benefit from reduced costs, boosting purchasing power and consumer confidence as the festive season approaches.
Economists note that the return to single-digit inflation could strengthen Ghana’s economic outlook in several ways. Lower inflation improves exchange rate stability, supports monetary policy decisions, and could help attract fresh investor confidence. For the Bank of Ghana, the trend provides room to maintain or ease interest rates, creating a friendlier environment for businesses seeking credit and for households paying off loans.
The last time Ghana recorded single-digit inflation was in August 2021, before global shocks, supply chain disruptions, and domestic challenges pushed prices higher. Today’s development not only highlights the impact of government policy measures but also reflects resilience in the broader economy. With three months left in the year, many Ghanaians are hopeful that this positive momentum will carry into 2026, easing the burden of living costs that have weighed heavily on households in recent years.
source: citi newsroom