Ghana’s inflation projected to drop to 17.2% in 2025
Fitch Solutions has revised Ghana’s average inflation forecast for 2025 downwards to 17.2%, from an earlier estimate of 18.8%, citing moderating price pressures and a gradual rebound in consumer confidence.
The UK-based research firm said the updated outlook signals some relief for households, potentially easing pressure on family budgets and supporting a pickup in consumer spending, an important driver of economic growth in the second half of the year.
According to Fitch Solutions, recent economic data points to a steady recovery in consumption.
The Bank of Ghana’s Consumer Confidence Index (CCI) rose sharply to 103.6 in April 2025, compared to 87.7 in the same month last year.
This rise clearly indicates that the momentum is expected to fuel growth in retail and services.
The firm also highlighted mobile money transactions as another sign of strengthening consumer activity.
Transactions increased by 23.5% year-on-year in April 2024, reinforcing the view of a vibrant domestic demand environment.
Despite the positive outlook for consumption, Fitch Solutions warned that persistently high interest rates could limit fixed investment in the near term.
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