Gov’t aims to sustain single-digit inflation trajectory
The government says it is intensifying efforts to sustain the recent decline in Ghana’s inflation rate, as part of a broader strategy to stabilise the economy.
Since President John Dramani Mahama assumed office, inflation has recorded a steady downward trend, reversing years of volatility largely driven by rising food, fuel, and utility prices. Historically, inflation has averaged about 27 percent annually.
However, the rate dropped significantly to 3.2 percent as of March 2026.
Speaking at the launch of the Annual Inflation Report in Accra on May 1, 2026, Deputy Minister of Finance, Thomas Nyarko Ampem, described the development as a major relief for households and a positive signal for businesses.
“Inflation affects every aspect of the economy, including incomes, investment decisions, interest rates, exchange rates, and borrowing costs. The story of 2025 is one of progress. The decline is not just a figure; it represents real relief for households, especially fixed-income earners, and greater predictability for businesses,” he stated.
He emphasised that the gains achieved were the result of deliberate and disciplined policy measures, stressing the need to maintain momentum.
Mr. Ampem also revealed that government is working closely with monetary authorities to entrench a stable, single-digit inflation regime.
“Stability does not come automatically, and progress is not guaranteed. The gains we have made must be protected. Under President Mahama’s leadership, we are committed to working with the monetary authorities to ensure that low, single-digit inflation becomes the new normal,” he added.
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