As of December 2024, Ghana's Consumer Price Index (CPI) surged to 23.80%, marking a 0.8 percentage point increase from the previous month. This rise reflects intensified purchasing pressures and inflationary trends affecting the Ghanaian economy, according to the latest data released on January 8, 2025.
The year-over-year comparison indicates that the CPI in December is not only higher than the previous month's rate of 23.00% but also points to underlying factors contributing to Ghana's economic volatility. This persistent inflation can have wide-reaching implications for consumers, businesses, and policymakers, potentially affecting commodity prices and purchasing power.
Analysts are watching closely as this continued rise in CPI could compel economic policymakers to take concrete measures to stabilize the economy and manage inflationary expectations. The recent uptick underscores the urgency for strategies aimed at enhancing economic stability and growth in Ghana.
