BoG predicts further fall in inflation as cedi strengthens
The Bank of Ghana (BoG) says it expects inflation to fall even further by the end of the year, supported by a stronger cedi and strict economic policies.
Speaking at the launch of the Cedi@60 celebrations in Accra, Governor Dr Johnson Asiama said Ghana’s inflation rate had dropped sharply to 9.4 per cent as of September 2025, down from 23.5 per cent at the start of the year.
He noted that this is the first time in four years that inflation has returned to the bank’s target range of 8 plus or minus 2 per cent.
Dr Asiama explained that the steady decline in inflation was due to tight monetary policy, responsible government spending, and the cedi’s strong performance. The currency has appreciated by more than 37 per cent against the US dollar this year, making it the best-performing currency in Sub-Saharan Africa, according to the World Bank.
He said Ghana’s economy has made a strong recovery since late 2022, when inflation rose to over 54 per cent, one of the highest levels in the world at the time.
Dr Asiama added that while the progress is encouraging, the country must remain disciplined to safeguard the gains made so far.
The Bank of Ghana says it will continue to maintain a stable exchange rate, keep inflation under control, and support measures to strengthen the country’s economic recovery.
