Africa-Press – Ghana. The year-on-year inflation rate slowed to 9.4 per cent in September 2025, its lowest level in four years, the Ghana Statistical Service said on Wednesday.
“The September inflation marks the ninth consecutive month of decline in inflation, and it is also the lowest we have seen since August 2021,” Dr Alhassan Iddrisu, the Government Statistician, said.
He said overall prices increased by 0.9 per cent between August and September, showing that while inflation was slowing, households still saw small price increases in the short-term.
Food inflation fell to 11.0 per cent in September, down from 14.8 per cent in August; however, food prices increased by 0.6 per cent between August and September.
Non-food inflation eased to 8.2 per cent from 9.7 per cent in August.
Non-food prices, however, rose 1.1 per cent month-on-month.
Inflation for goods slowed to 11.2 per cent from 13.9 per cent in August, though goods prices rose 0.8 per cent month-to-month.
Services inflation eased more gently, from 5.4 per cent in August to 4.8 per cent in September, but service costs rose 1.1 per cent between August and September.
He said since goods accounted for nearly 75 per cent of the CPI basket, the slowdown in goods inflation was a relief for consumers.
The Government Statistician said locally produced goods remained costlier than imports, though both eased in September.
Local inflation fell from 12.2 per cent in August to 10.1 per cent in September, while imports dropped from 9.5 per cent to 7.4 per cent.
He said the relatively stronger cedi and lower global prices could be driving the import relief, whilst the weak local supply and distribution could be keeping domestic prices high.
Dr Iddrisu said sharp regional differences persisted as Inflation was uneven across the country.
The North East region recorded the highest rate at 20.1 per cent, while the Bono East region had the lowest at 1.2 per cent.
Local supply, transport costs, and market access were likely drivers of these gaps in regional inflation.
Dr Iddrisu recommended that businesses could invest in efficiency and local supply chains while inflation was low, adding that they could cut waste, strengthen sourcing from local producers, and reposition to grow as the economy stabilises.
“They can pass cost savings to consumers where inputs are cheaper to build trust and competitiveness,” he said.
For the households, he urged them to take advantage of the falling inflation to plan ahead; budget smarter, avoid unnecessary spending, and set aside whatever little they can.
He called on the government to maintain fiscal discipline, focus resources on keeping food prices low by strengthening storage, irrigation, and transport and tackling regional disparities.
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