Ghanaian economist, Professor William Baah-Boateng, has projected that Ghana’s inflation could fall further to around 9% by the end of 2025, provided the exchange rate remains stable and other favourable economic conditions persist.
Speaking on The Point of View, his remarks come after the Ghana Statistical Service (GSS) reported that headline inflation eased to 11.5% in August 2025, down from 12.1% in July.
This marks the eighth consecutive month of decline, taking inflation below the government’s year-end target of 11.9% and signalling stronger price stability.
“If we have month-on-month inflation coming down, then it is good. But it is attributed to a number of factors,” Prof. Baah-Boateng explained.
He noted that the cedi’s appreciation between April and May had already reduced price pressures.
“By July and August, the effect on prices will not be as much as before, but it will still have some impact.”
On the agricultural front, he highlighted that ongoing harvests and favorable rainfall are helping stabilize food prices.
“From the food end, we will continue to harvest, which is good for us, especially as we have had quite reasonable rain.”
Looking ahead, the economist stressed that exchange rate management will be key.
“I expect that where it has been, if the exchange rate does not misbehave and we are able to keep it at GH₵12 till the end of the year, we should end the year with an inflation rate of 9%,” he projected.
