In May 2025, Ghana’s inflation rate fell precipitously from 21.2% in April to 18.4%. For the fifth consecutive month, the nation’s inflation rate has been steadily declining, and this is the lowest level since February 2022.
Additionally, it continues the nation’s disinflation trend for the fifth consecutive month, with the rate almost halving from its 2022 highs.
According to the Ghana Statistical Service (GSS), a decline in transport costs as a result of lower fuel prices is the primary cause of the decline. Additionally, the cost of non-food items decreased.
Government Statistician Dr. Alhassan Iddrisu stated during a press conference in Accra that the reduction of transport and fuel costs has eased the strain on household spending. Food costs are still high, but they are beginning to decline.
Despite the nationwide decline, regional variations exist in inflation rates. With an inflation rate of 38.1%, the Upper West Region had the highest rate, primarily as a result of growing food and transportation expenses. At 14.5%, the Ahafo Region had the lowest rate, indicating more stable prices.
