Ghana’s inflation rate moderated to 23.5% in January 2025, after four consecutive months of rising prices. This follows a challenging period where inflation had exceeded the government’s 2024 year-end target of 15%. The inflation rate reached 23.8% in December 2024, up from 23.0% in November.

Despite the overall slowdown, food inflation remains a significant concern, climbing to 28.3% in January from 27.8% the previous month. In contrast, non-food inflation continued its downward trajectory, easing to 19.2% in January from 20.3% in December.

Government Statistician Professor Samuel Kobina Annim offered further context on the data, noting that the January 2025 figures represent a modest easing in the inflation rate. “The rate of inflation has slowed down by 0.3 percentage points, from 23.8% at the end of 2024 to 23.5% in January 2025,” he said, characterizing the development as a disinflationary trend.

The decline in inflation offers some relief, but concerns persist over the rising cost of food, which continues to exert pressure on consumers.

Source:TheDotNews