Inflation Drops to 6.3% in November — GSS
By Praisebell Rosemond Larbi
Ghana’s inflation rate has continued its remarkable downward trajectory, falling for the eleventh straight month to reach 6.3% in November 2025, down from 8.0% in October. This is according to the latest Consumer Price Index (CPI) report released by the Ghana Statistical Service (GSS). The sustained decline marks one of the longest disinflation periods in recent years and brings inflation closer to the Bank of Ghana’s medium-term target band of 6% ± 2%.
Presenting the data in Accra, the Government Statistician, Dr. Alhassan Iddrisu, explained that the easing inflation was underpinned by consistent declines in both food and non-food prices. Month-on-month inflation rose by only 0.9%, indicating a relatively stable price environment heading into the final month of the year.
Food inflation saw one of its steepest declines yet, dropping from 9.5% in October to 6.6% in November. Dr. Iddrisu attributed this improvement to better harvest conditions, enhanced food supply, and relative stability in transport and input costs. Non-food inflation also fell to 6.1%, down from 6.9% the previous month, signalling reduced pressures from items such as housing, utilities, and transportation.
Inflation within the services sector eased as well, declining from 4.6% to 3.8%, supported by moderating costs in education-related services, household maintenance, and administrative fees.
A regional breakdown of the CPI figures showed significant disparities across the country. The North East Region recorded the highest inflation rate at 12.3%, influenced largely by transportation costs and food price variability. In contrast, the Savannah Region posted the lowest inflation, registering -0.02%, an indication of stable market conditions and improved food availability in the area.
Inflation for locally produced items also fell sharply, easing from 8.0% in October to 6.8% in November, while inflation for imported goods slowed to 7.3%, compared to 9.3% previously. Analysts say the reductions reflect the effects of a more stable exchange rate and improved supply chain logistics.
Economists describe the latest figures as a significant boost to economic recovery efforts, noting that lower inflation improves purchasing power, reduces business uncertainty, and supports lower interest rates in the medium term. The Bank of Ghana’s recent monetary policy rate cuts, together with improved market liquidity, are expected to reinforce further disinflation.
Businesses have been encouraged to capitalise on the lower inflation environment by expanding production, improving operational efficiency, and strengthening local supply chains. Analysts also call on manufacturers and retailers to reflect cost reductions in their pricing to support broader economic stability.
With one month remaining in the year, the GSS report signals continued optimism that Ghana could close 2025 with inflation firmly within its target band, an outcome that would mark a major milestone in the country’s post-restructuring economic recovery.
