Ghana’s inflation rate fell to 8.0% in October, marking the lowest level since June 2021 and the first single-digit reading in more than four years, the Ghana Statistical Service (GSS) announced Wednesday.

The figure represents a 1.4 percentage point drop from 9.4 per cent  in September and a dramatic improvement from 23.8 per cent  in December 2024, extending a 10-month downward trend.

Month-on-month inflation also eased by 0.4%.per cent , signaling broad-based relief in consumer prices.

“For the first time since June 2021, Ghana has achieved single-digit inflation,” Government Statistician Dr. Iddrisu Alhassan told reporters at a briefing in Accra. He continued “This means the pace at which prices of goods and services are rising has slowed significantly.”

Dr. Alhassan highlighted gains in food, transport, and housing—categories critical to household budgets—while noting that food remains the largest driver of overall inflation.

Economists welcomed the milestone as a boost for investor sentiment and purchasing power but stressed that sustained stability hinges on global commodity trends, currency strength, and disciplined fiscal policy.

The GSS data underscores the impact of coordinated monetary and fiscal measures in taming price pressures and anchoring economic recovery.