The government is working around the clock to consolidate the gains made so far in lowering the country’s inflation rate.

Since President John Dramani Mahama assumed office, inflation has followed a consistent downward trend.

Historically, Ghana’s inflation has been highly volatile, averaging around 27 percent annually, driven largely by food, fuel, and utility costs.

However, by March 2026, inflation had slowed to 3.2 percent.

Speaking at the launch of the Annual Inflation Report in Accra on May 1, 2026, the Deputy Minister of Finance, Thomas Nyarko Ampem, said the government is determined to stabilise the country’s macroeconomic fundamentals.

He said, “Inflation affects everything; it shapes incomes, business investment, interest rates, exchange rates, and borrowing costs. The story of 2025 is one of progress. That drop is not just a statistic; it is relief for households, especially fixed-income earners, and predictability for businesses. It shows that disciplined policy, when sustained, delivers results.”

He further disclosed that plans are well advanced to collaborate with monetary committees to firmly entrench the government’s single-digit inflation agenda.

“Stability is not automatic, and progress is not permanent. The gains we have seen are the result of deliberate policy choices, and they must be sustained. Under President Mahama’s leadership, we are committed to working with the monetary authority to ensure that low, single-digit inflation becomes the new norm. I thought you would clap for that,” he added.

SA/SEA