Ghana’s inflation rate has continued its downward trend, with headline inflation falling to 18.4% in May 2025 from 21.2% in April—marking the fifth consecutive monthly drop and the lowest rate since February 2022. Monthly inflation also eased slightly to 0.7% in May from 0.8% in April, indicating growing price stability.

Despite this progress, the Ghana Statistical Service (GSS) has called on government to sustain the momentum by deepening macroeconomic reforms and prioritizing investments in food logistics, utilities, and regional support systems—particularly in high-inflation areas.

The Upper West Region recorded the highest inflation at 38.1%, driven by sharp increases in housing and utilities (124.3%), education services (57.6%), and food prices (43.9%). Specific categories like fish and other seafood (92.1%) and oils and fats (80.2%) were even more extreme.

The GSS warned that such regional disparities need urgent, targeted interventions to ensure nationwide stability.

Food inflation, though reduced from 25% in April to 22.8% in May, remains the largest contributor to overall inflation. To address this, Government Statistician Dr. Alhassan Iddrisu urged investment in food infrastructure—particularly post-harvest storage, transportation, and irrigation—to strengthen supply chains and reduce losses.

Dr. Iddrisu emphasized the importance of expanding targeted social safety nets in areas with high food and education costs to cushion vulnerable populations.

He also called for increased support for local production and SMEs to reduce reliance on imports and bolster domestic supply chains. “Promoting local production is essential to sustaining disinflation in the long term,” he said.

The GSS encouraged continued collaboration between the Ministry of Finance and the Bank of Ghana to monitor inflation dynamics and adjust monetary policy where necessary. “There’s a need for close alignment of fiscal and monetary policies to ensure inflationary pressures are effectively managed,” Dr. Iddrisu noted.

The GSS offered practical advice for households facing rising living costs, especially from food and healthcare:


  • Buy food in bulk and prioritize local, seasonal produce.


  • Limit spending on discretionary items like dining out and recreation.


  • Use NHIS services and focus on preventive healthcare to reduce medical expenses.

For businesses, the GSS recommended local sourcing as a cost-control strategy, given that local inflation is easing faster than imported inflation. Companies were also urged to avoid unjustified price increases and tailor pricing strategies based on regional inflation trends.

“With disinflation taking hold, businesses should build consumer trust through transparent pricing while adapting to regional cost variations,” Dr. Iddrisu concluded.