The World Bank is forecasting an inflation of 17.2% for Ghana in 2025.
This will be lower than the International Monetary Fund (IMF) programme target of 15%.
However, it is projecting a drastic reduction of inflation (9.4%) in 2026.
In its April 2025 Africa Pulse Report, the World Bank estimated that Ghana’s inflation rate would be 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”, it said.
It pointed out that that inflation will continue converging to target across African countries, but it may hit some bumps in the road if the risk of increased inflation materializes as a result of the implementation of more restrictive trade policies around the world.
The increase in the interquartile range reflects that some countries still have inflation rates in the double digits or higher—such as Angola, Burundi, Ghana, Malawi, Nigeria, Sudan, and Zimbabwe, among others.
Meanwhile, the median inflation rate in Sub-Saharan Africa declined from 7.1% in 2023 to 4.5% in 2024, and it is projected to bounce back slightly to an annual average rate of 4.6% in 2025–27.
The World Bank indicated that a deceleration of inflation was recorded by about 70% of the countries in the region in 2024. The drop for most countries can be explained by the gradual easing of supply chain pressures, the effects of contractionary monetary and fiscal policy, as well as greater currency stability. However, the variability of inflation across countries remains high.
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