Ghana's inflation rate decelerated for the second consecutive month in February, reaching 23.1%, a slight decrease from January's 23.5%.
The latest figures, released by the Ghana Statistical Service (GSS), indicate that the downward trend was primarily driven by a 1.8 percentage point reduction in food inflation.
Speaking at a press briefing on Wednesday, March 5, 2025, Government Statistician, Prof. Samuel Kobina Annim, highlighted that the decrease in food inflation had been consistent over the past four months.
“In the last four months, you’ve seen a consistent decline in food inflation on a month-on-month basis, dropping by 2.0 percentage points between November 2024 and February 2025,” he stated.
Despite the decline, Prof. Annim noted that the annual inflation rate for February was still the third-highest recorded in the last ten months, underscoring the persistent economic challenges facing the country.
Food inflation for February 2025 stood at 28.1%, down slightly from 28.3% in January, reflecting a 1.8% month-on-month decrease. However, several food items still recorded price increases, including vegetables, tubers, cooking bananas, and pulses (28.1%), ready-made food and other food products (45.5%), cereals and cereal products (38.6%), and fish and seafood (26.5%).
Non-food inflation also saw a marginal decline, dropping to 18.8% in February from 19.2% in January, representing a 0.9% reduction.