By: Ruth Serwaa Asare
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has announced a significant drop in inflation, describing it as “faster than anyone imagined.” Presenting the 2026 Budget Statement to Parliament on Thursday November 13, Dr. Forson said inflation declined sharply from 23.8% in December 2024 to 8% by October 2025, bringing the country back to single digit inflation for the first time in years.
He attributed the achievement to what he called “disciplined fiscal policy, steady monetary management, stable exchange rates and strong domestic production.”
According to the minister, food inflation also dropped from 27.8% to 9.5%, leading to reductions in the prices of essential goods such as tomatoes, garden eggs, okra, and fish. Non food inflation similarly fell from 20.3% to 6.9%, supported by stable fuel prices and reduced import costs.
Dr. Forson emphasized that the progress was not by chance but the result of “visionary leadership, fiscal discipline, and policy consistency,” which have restored confidence in the economy and eased pressure on families and businesses.
He added that the government remains committed to sustaining stability through improved food security and stronger coordination between fiscal and monetary authorities.
