We expect inflation to hit single digit by first quarter of 2026- BoG Governor

The Bank of Ghana Governor, Dr. Ernest Addison, has projected Ghana's inflation rate to drop to single digits by Q1 2026, contingent on economic policies under the incoming John Mahama government in 2025.

Inflation, which peaked at 54.1% in December 2022, slowed in 2023 but ended 2024 at 23%, higher than the revised target of 18%.

Dr. Addison attributed the rise to election-related uncertainties and economic challenges, though he anticipates inflation to decrease to 15% by the end of 2025 due to the Bank’s monetary policies.

He stressed the link between inflation and the cedi’s stability, citing debt exchange impacts. Despite setbacks, Dr. Addison highlighted the resilience of policies implemented by the Bank of Ghana, aiming for sustained economic stability.