Ghana’s inflation rate dropped to 23.5% in January 2025, marking a slight decline after four consecutive months of rising inflation.

The latest figures indicate a slowdown in price increases after inflation peaked at 23.8% in December 2024, missing the government’s end-of-year target of 15%.

Food inflation, however, remains a concern, climbing from 27.8% in December to 28.3% in January. In contrast, non-food inflation continued its downward trajectory, easing from 20.3% in the previous month to 19.2%.

Providing further insights into the inflation trend, Government Statistician Professor Samuel Kobina Annim stated:

“In January 2025, general price levels of goods and services went up by 23.5%. Between January 2024 and January 2025, general price of goods and services went up by 23.5%.

This indicates a disinflation as the rate of inflation has slowed down by 0.3 percentage points, slowing down from the year-end 2024 figure of 23.8% to 23.5% for the month of January 2025,” he explained.