Inflation drops marginally to 13.7% in June 2025
A Deloitte West Africa Inflation Update has projected that Ghana is likely to end 2025 with single-digit inflation.
This is below the Bank of Ghana’s earlier projection of 12% made in March this year. According to Deloitte, current disinflationary trends are likely to provide the Central Bank with enough room to adjust interest rates favourably.
It is expected that the Bank of Ghana will begin easing interest rates at its next Monetary Policy Committee (MPC) meeting, scheduled to conclude on July 30, 2025.
“An ease in interest rates will encourage more lending to the real sector and support further output and overall economic growth,” the Deloitte said.
The firm also projected that ongoing fiscal consolidation measures and policy adjustments by the government could help sustain the decline in inflation for the rest of the year.
However, Deloitte cautioned that upside risks remain, including ongoing global shocks and local tariff adjustments, such as the 2.45% increase in electricity tariffs and the GH¢1.00 fuel levy, which could pose threats to inflation stability.
The report further stated that the continued decline in inflation has widened the positive real rate of return on investment to 14.3%, up from 6.2% in June 2024, using the monetary policy rate as a benchmark.
Ghana’s inflation rate for June 2025 fell to 13.7%, down from 18.4% in the previous month, driven by lower food prices, reduced transport costs, and the appreciation of the cedi.
SSD/MA
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