Ghana to record end-year inflation of 15.0% in 2024 – IMF

The IMF projects Ghana’s average inflation in 2024 at 19.5%, with an end-year rate of 15%, and a significant drop to 11.5% average inflation in 2025.

End-year inflation for 2025 is estimated at 8.1%, the lowest since 2019, due to expected policy adjustments and economic stability, potentially boosting consumer spending and demand.

Regional inflation is also forecasted to decline, with notable decreases in Angola, Ghana, and Nigeria. Meanwhile, Ghana’s inflation rose to 21.5% in September 2024, shortly after the Bank of Ghana implemented a 2.0% rate cut, its largest in six years.