Ghana could end 2025 with single-digit inflation – Deloitte

Ghana is on track to end 2025 with a single-digit inflation rate, according to a new report by Deloitte.

The professional services firm credits the country’s sustained disinflationary trend for creating room for the Bank of Ghana (BoG) to potentially cut interest rates starting from its July Monetary Policy Committee meeting.

In its “West Africa Inflation” report, Deloitte noted:

“Ghana is likely to end 2025 with an inflation rate below the BoG’s revised target of 12%.”

Ghana’s inflation rate currently stands at 13.7%, per June 2025 data from the Ghana Statistical Service (GSS).

According to Government Statistician, Dr. Alhassan Iddrisu, this marks a steady decline, mainly driven by reduced food prices and easing cost pressures across key consumer items.

In a press briefing on July 2, Dr. Iddrisu said general price levels dropped by 1.2% between May and June, signaling a rare monthly deflation and pointing to a sustained downward trend in inflation over the past six months.

“This trend provides assurance of a real, consistent shift in prices,” he stated.

However, regional disparities persist. The Upper West Region recorded the highest inflation at 32.3%, mainly due to food and utility prices, while the Bono Region posted the lowest at 8.4%.

If Deloitte’s forecast holds, Ghana will close the year with inflation back in the single-digit zone for the first time in several years, marking a major milestone in economic recovery and monetary stability.