Consumer spending in Ghana to slowdown in coming months – Deloitte

Deloitte West Africa’s February 2025 Inflation Update predicts a slowdown in consumer spending in Ghana amid economic uncertainties.

Ghana’s inflation declined to 23.50% in January 2025, with monthly inflation easing to 1.7% from 1.8% in December 2024, although food prices continued to rise.

Deloitte expects the Bank of Ghana to maintain its current monetary policy rate while monitoring inflation closely. In contrast, Nigeria faces persistent price pressures in 2025 due to anticipated tariff hikes, global commodity shocks, and food security challenges.

The Monetary Policy Committee is likely to take a cautious, wait-and-see approach to policy changes, as premature interest rate cuts could erode recent gains.

Despite Nigeria’s inflation falling sharply to 24.48% in January 2025, comprehensive reforms remain essential to address these challenges.