Ghana continues to break economic projections with the fastest inflation recovery in years Ghana, which mid-point into the year was projected to hit a single-digit inflation figure before the year runs out, is not only ahead in said projection, but also steadily maintaining its economic recovery pace.Ghana’s inflation rate has dropped to 8% in the current year, significantly lower than 9.4% in the previous month and 22.1% the prior year.This marks the ninth consecutive decrease in inflation rates, reflecting the country’s ongoing economic recovery under President John Mahama.High cocoa and gold prices have strengthened Ghana’s currency and contributed to the current economic resurgence and inflation reduction.The government has implemented strategies focusing on fiscal discipline, currency stability, and export growth to improve economic conditions.Ghana’s economy under John MahamaThe current inflation drop is the 9th decline in a row, highlighting the country’s economic recovery under its new administration led by President John Mahama.
Recent figures indicate that Ghana’s current inflation rate stands at 8% compared to 9.4% in September.This figure is also a far cry from the same period last year, when Ghana was in the midst of one of its worst economic crises in history.
Ghana, which mid-point into the year was projected to hit a single-digit inflation figure before the year runs out, is not only ahead in said projection, but also steadily maintaining its economic recovery pace.Ghana continues to break economic projections with the fastest inflation recovery in yearsGhana continues to break economic projections with the fastest inflation recovery in yearsGhana’s inflation rate has dropped to 8% in the current year, significantly lower than 9.4% in the previous month and 22.1% the prior year.This marks the ninth consecutive decrease in inflation rates, reflecting the country’s ongoing economic recovery under President John Mahama.High cocoa and gold prices have strengthened Ghana’s currency and contributed to the current economic resurgence and inflation reduction.The government has implemented strategies focusing on fiscal discipline, currency stability, and export growth to improve Recent figures indicate that Ghana’s current inflation rate stands at 8% compared to 9.4% in September.
This figure is also a far cry from the same period last year, when Ghana was in the midst of one of its worst economic crises in history.The country’s inflation figure for October 2024 was 22.1% a four-month high at the time, as opposed to the current figure, which represents a four-year low.Ghana’s October 2025 inflation was disclosed by Government Statistician Alhassan Iddrisu during a virtual briefing on Wednesday.Ghana, the world’s second-largest producer of cocoa and Africa’s top exporter of gold, benefited from high cocoa and gold prices, which have caused the cedi to rise versus the dollar by about 35% this year and helped reduce inflation
Johnson Asiama, the country’s central bank governor, revealed last week that inflation will probably end the year at less than 9.4%.Following a record 350 basis-point cut to 21.5% in September, the dip provides more support for a policy rate reduction later in the month.Ghana’s economy under John MahamaThe current inflation drop is the 9th decline in a row, highlighting the country’s economic recovery under its new administration led by President John Mahama.Ghana’s Mahama courts oil investors, pushes for aggressive crude oil extractionGhana’s Mahama courts oil investors, pushes for aggressive crude oil extractionSince assuming office, President John Mahama’s administration has emphasized fiscal discipline, currency stability, and export growth as critical components of its economic plan.Efforts to improve budgetary discipline, along with favorable external conditions, have allowed the economy to reset after years of instability.
For context, inflation declined to 18.4% in May from 21.2% in April, then to 13.7% in June, owing mostly to a jump in gold prices, which increased the country’s foreign exchange profits and helped stabilize the cedi.A report in September showed that Ghana’s GDP expanded by 6.3% year on year in the second quarter of 2025, up from a revised 5.7% in the same period the previous year, according to data released by the Ghana Statistical Service.The services sector, which grew by 9.9% during the quarter compared to just 2% growth the year before, was the main driver of the rebound.Government statistician Alhassan Iddrisu said that trade, education, insurance, and finance were the main drivers of the nation
Growth in agriculture and other service sectors drove a 7.8% increase in Ghana’s GDP, excluding oil. The resilience of agriculture provided a crucial cushion as oil production declined.As Ghana’s economy recovers from its worst economic crisis in decades, these data represent a turning point.
