Ghana’s inflation rate is expected to ease further to 21.8% year-on-year in April 2025, according to fresh market projections, signaling a gradual but fragile economic recovery.
The forecast, led by Databank Research, points to relatively stable fuel prices and a more resilient cedi as key factors underpinning the disinflation trend, following March’s moderation to 22.4%.
While improved food supply dynamics have added momentum to the slowdown, analysts are warning that the path ahead remains precarious. Databank cautions that any premature loosening of monetary policy—especially a hasty interest rate cut at the Bank of Ghana’s upcoming May meeting—could derail the hard-won progress.
The central bank had raised the policy rate to 28% in March to reinforce its fight against inflation. Maintaining a tight policy stance, analysts argue, will be critical to anchoring expectations and consolidating economic stability.
As Ghana navigates its delicate economic rebound, policymakers face a tough balancing act between supporting growth and safeguarding price stability.
