Ghana’s Inflation Rate Decreases to 23.1% in February 2025

Ghana’s inflation rate fell to 23.1% in February 2025 from 23.5% in January, primarily due to a 1.8% drop in food inflation. Food inflation stands at 28.1%, with notable price increases in categories such as ready-made food and cereals. The Upper West Region recorded the highest overall food inflation at 49.8%.

In February 2025, Ghana’s inflation rate experienced a slight decrease, resting at 23.1%, down from January’s figure of 23.5%. This reduction is chiefly attributed to a 1.8% drop in food inflation. The new rate indicates a continuing trend of inflation reduction over the past months, despite remaining one of the highest figures observed in the last ten months.

Food inflation for February was reported at 28.1%, a slight decline from 28.3% in January. The non-food inflation rate also saw a modest decrease, falling from 19.2% in January to 18.8% in February. These changes demonstrate a gradual easing of pressure in both food and non-food sectors.

The Upper West Region reported the highest food inflation rate at 49.8%, while the Savannah Region followed closely with a food inflation rate of 48.6%. The data also reflects that notable price increases were observed in various food categories, particularly in ready-made food and other food products, which surged by 45.5%.

Notable price increases for February included cereals and cereal products which reached an increase of 38.6%, and fish and seafood prices rising by 26.5%. Similarly, the prices of vegetables, tubers, cooking bananas, and pulses saw a hike of 28.1%. Despite these increases, the overall trend indicates a continued decline in food inflation, as reported by Government Statistician Prof. Samuel Kobina Annim, with reductions recorded over the past four months.

Ghana’s inflation rate has demonstrated a modest decline, primarily influenced by decreases in food inflation. Key regions, such as Upper West and Savannah, are experiencing the highest inflation rates, emphasizing ongoing challenges in food pricing. However, the gradual decreases highlight potential stabilization in the economy despite the still-high overall inflation figures.

Original Source: www.ghanaweb.com