Ghana’s inflation rate dropped slightly to 23.1% in February 2025, down from 23.5% in January, marking the second consecutive decline this year.

The marginal decrease was largely attributed to a reduction in food prices, according to the Ghana Statistical Service.

The latest figures show that food inflation declined to 28.1%, while non-food inflation remained unchanged at 18.8%.

On a regional level, the Upper West Region recorded the highest inflation rate at 35.5%, whereas the Volta Region reported the lowest at 18.1%.

“In the last four months, you’ve seen a consistent decline in food inflation on a month-on-month basis, declining by 2.0 percentage points between November 2024 and February 2025,” Government Statistician, Prof. Samuel Kobina Anim, noted.

With inflation showing signs of a downward trend, some analysts believe this could influence the Bank of Ghana’s monetary policy decisions. The possibility of a policy rate cut is being considered as the central bank aims to balance economic growth with price stability.