FX.co ★ Ghana Inflation Rate at 2022-Lows of 18.4%

Ghana's annual consumer inflation eased for the fifth consecutive month, reaching 18.4% in May 2025, marking its lowest level since February 2022. This moderation was largely attributed to the strengthening of the national currency. Ghana, recognized as Africa's leading gold producer, experienced a remarkable 44% appreciation of the cedi this year, making it the top-performing currency globally. This currency boost was propelled by a significant rise in gold prices. Inflation decelerated in both the food sector (22.8% compared to 25% in April) and the non-food sector (14.4% compared to 17.9%). On a month-to-month basis, consumer prices inched up by 0.7% in May.