The Minister of Finance, Dr Cassiel Ato Forson, has announced that Ghana’s inflation rate has dropped significantly, returning to single digits.

According to him, this progress occurred more swiftly than anyone had anticipated.

His remarks follow the release of the October 2025 inflation figures, which peg the rate at 8%.

Speaking in Parliament during the presentation of the 2026 Budget on November 13, 2025, Dr Forson attributed the decline to disciplined fiscal policies, a stable exchange rate, and strong domestic production.

He noted that these measures have helped restore investor confidence in the local economy.

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“Mr. Speaker, inflation has fallen faster than anyone imagined, from 23.8% in December 2024 to 8% by October 2025. Ghana is back to single-digit inflation. This was not by sheer luck,” he said.

Dr Forson also highlighted a sharp drop in food inflation, which fell from 27.8% to 9.5%, adding that the prices of several food items continue to decline.

The inflation rate for October 2025 dropped to 8.0%, the lowest level recorded since June 2021.

According to the Ghana Statistical Service, the latest data show a 1.4 percentage point decrease from the 9.4% recorded in September and a sharp improvement from the 23.8% rate in December 2024, underscoring the continued easing of price pressures in the economy.

Month-on-month inflation also declined by 0.4%, indicating a modest reduction in general price levels across major consumer categories.

SA/MA