Inflation to end 2025 at 13.6% – Fitch Solutions

Fitch Solutions projects Ghana’s inflation to average 18.8% in 2025, ending the year at 13.6%, moving closer to the pre-pandemic average of 12.4%.

However, inflation started the year at 23.5% in January, up from 20.3% in August 2024 but significantly lower than its 54.1% peak in December 2022.

The rise in food inflation from Q4 2024 into 2025 remains a short-term concern, especially as food and non-alcoholic drinks account for 42% of household spending.

However, housing, utilities, and transport costs are stabilizing following tariff hikes in July 2024. As inflation eases, household purchasing power is expected to improve, gradually increasing demand for non-essential goods.