A new report by the Ghana Statistical Service (GSS) has revealed that the country’s inflation rate dropped to 8.0% in October 2025, marking a significant decline from 9.4% in September and a sharp fall from the 23.8% recorded in December 2024. This represents the lowest inflation figure in nearly three years, signaling continued price stability across key sectors of the economy.
Addressing the press in Accra, the Government Statistician, Dr. Alhassan Iddrisu, said the drop was largely driven by lower food prices. Food inflation fell to 9.5% in October, down from 11.0% in September, meaning food prices decreased by about 1% month-on-month. Non-food inflation also eased to 6.9%, compared to 8.2% in September. However, he noted that non-food prices rose slightly by 0.04% between the two months.
Dr. Iddrisu added that locally produced goods remained more expensive than imported ones during the period, though local inflation declined from 10.1% to 8.0%, while imported inflation rose modestly from 7.4% to 7.8%. Regionally, the North East Region recorded the highest inflation rate at 17.3%, whereas the Bono East Region registered the lowest at 1.1%.
Clarifying the meaning of the drop, Dr. Iddrisu explained that a reduction in inflation does not mean prices are falling but rather that the rate of increase in prices has slowed. He emphasized that this trend reflects improved economic stability and effective policy measures aimed at managing inflationary pressures.
