Ghana on track for single digit inflation by October – Analyst
By: Rebecca Okine
Economic analyst Emmanuel Boateng has projected that Ghana could achieve single digit inflation by October if current economic trends continue.
The analysis follows the release of recent inflation data showing a decline from 18.4 percent to 13.7 percent, a development he described as both “steep and significant.”
Speaking on the Business Breakfast show on Zed 101.9 FM yesterday, Mr. Boateng said the sharp drop in inflation is more than a routine economic shift.
He indicated it reflects growing macroeconomic stability and improved policy coordination.
“This is not your usual marginal decrease. It signals a turning point in our macroeconomic performance and could mark the beginning of a new phase of investor confidence,” the economic analyst said.
According to Mr. Boateng, the current inflation trajectory suggests Ghana may reach its medium term target of 8 percent sooner than expected.
“If things continue the way they are, we may hit single digit inflation by October or November,” he projected.
The economic analyst also highlighted improved alignment between fiscal and monetary policy as a major driver of the progress.
“In the past, monetary policy would try to rein in inflation while fiscal policy worked against it. But now, both are moving in the same direction, and that is critical,” he explained.
Mr. Boateng emphasized that this policy coordination is building the kind of confidence needed to attract both local and foreign investors. Reduced inflation, he said, lowers investment risk and creates a more predictable environment for capital allocation.
The Ghana Statistical Service recently announced a Consumer Price Index (CPI) rate of 13.7 percent for June, the lowest since 2021.
According to Mr. Boateng, this development, if sustained, positions the country well for accelerated recovery and stronger private sector growth.
He urged policymakers to maintain the momentum and communicate clearly to prevent uncertainty in the market.
