The Minister for Finance, Dr Cassiel Ato Forson, has expressed optimism that Ghana’s inflation rate will fall to a single digit by the end of 2025, well ahead of the government’s official projection.

In an interview with JoyNews on Thursday, July 24, following the presentation of the 2025 Mid-Year Budget Review in Parliament, Dr Forson pointed to encouraging macroeconomic trends and a sharp decline in producer price inflation as the basis for his prediction.

“I am of the firm belief that by the end of the year, we will be entering single digits, for a reason,” he stated.

“Based on the trajectory, we are now at 13.7%. The Producer Price Inflation, for example, moved from 10-point-something to 5.9% last month. And based on that, I expect that next month inflation will go down, and if it does, then I believe that by the end of December, we should be able to achieve that.”

While reaffirming the government’s official year-end inflation target of 11.9% as captured in the Mid-Year Review, Dr Forson suggested the target may be achieved sooner than anticipated.

“As I have said, even though I still maintain the target of 11.9%, I said again in the speech, we’ll be achieving our target ahead of schedule,” he added.