FX.co ★ Ghana Inflation Rate Hits New 2021-Low

Ghana's annual inflation rate further slowed to 9.4% in September 2025, representing the lowest level since August 2021. This decline from the previous month's 11.5% highlights the ninth consecutive period of reducing inflation. However, it still exceeds the Bank of Ghana's target range of 8%, which allows for a tolerance band of 6–10%. The primary driver behind September's deceleration was a significant drop in food prices, which fell from 14.8% in August to 11%. In contrast, non-food prices decreased mildly from 8.7% to 8.2%. Additionally, imported inflation eased to 7.4% in September from 9.5% in August, supported by the relative strength of the cedi amid recent fluctuations.