Dr Cassiel Ato Forson, the finance minister, has said he firmly believes Ghana will end 2025 with single-digit inflation.
According to him, the country is well ahead of the government’s official projection.
Ato Forson cited the encouraging macroeconomic indicators and the decline in producer price inflation.
Speaking in an interview on JOY NEWS Thursday, July 24, Ato Forson detailed, “I am of the firm belief that by the end of the year, we will be entering single digits, for a reason”.
“Based on the trajectory, we are now at 13.7%. The Producer Price Inflation, for example, moved from 10-point-something to 5.9% last month. And based on that, I expect that next month inflation will go down, and if it does, then I believe that by the end of December, we should be able to achieve that”.
“As I have said, even though I still maintain the target of 11.9%, I said again in the speech, we’ll be achieving our target ahead of schedule,” he added.
Meanwhile, Ghana’s inflation for June 2025 dropped significantly to 13.7% from 18.4% recorded in May 2025.
This is according to data released by the Ghana Statistical Service.
This represents a 4.7 percentage drop from the month of May 2025 and the lowest inflation recorded since December 2021.
It marks the sixth consecutive monthly decline.
Dr. Alhassan Iddrisu, the Government Statistician, described the reduction in inflation to the weighed on the economy in recent months.
Speaking at a press conference, Dr. Alhassan Iddrisu stated, “For the first time in a while, we are recording a month-on-month deflation of 1.2 per cent between May and June, suggesting a real and sustained shift in price levels.”
The Upper West Region recorded the highest inflation rate at 32.3 per cent, with the Bono Region with the lowest at 8.4 per cent.
However, food inflation now stands at 16.3 per cent, down from 22.8 per cent in May, while non-food inflation also eased to 11.4 per cent from the previous 14.4 per cent.
