The World Bank is forecasting an inflation rate of 17.2% for Ghana in 2025. This is higher than the International Monetary Fund (IMF) programme target of 15%.
However, the World Bank projects a significant reduction in inflation to 9.4% by 2026. In its April 2025 Africa Pulse Report, the World Bank estimated that Ghana’s inflation rate would drop further to 8.0% in 2027.
“Of 47 countries in the region, 14 still have inflation rates of two digits or more—including Angola, Ethiopia, Ghana, Malawi, Nigeria, Sudan, and Zimbabwe, among others. By 2027, the number of countries with two-digit or higher inflation rates is expected to fall to six,” the report stated.
The report noted that inflation will continue to converge toward target levels across African countries, though there may be challenges if inflation risks rise due to the implementation of more restrictive trade policies globally.
The report also highlighted that inflation rates are still in double digits for countries such as Angola, Burundi, Ghana, Malawi, Nigeria, Sudan, and Zimbabwe.
Meanwhile, the median inflation rate in Sub-Saharan Africa is expected to decline from 7.1% in 2023 to 4.5% in 2024, with a slight rise to an annual average rate of 4.6% projected for 2025–2027.
The World Bank indicated that approximately 70% of countries in the region experienced a deceleration of inflation in 2024. This decline can be attributed to the easing of supply chain pressures, the impact of contractionary monetary and fiscal policies, and greater currency stability. However, the variability of inflation across countries remains high.
Source: Myjoyonline