Inflation is expected to end 2025 within the range of 10% to 12%.

According to Databank Research, this will potentially prompt the Monetary Policy Committee (MPC) of the Bank of Ghana to adopt a cautious approach to policy easing.

Professional services firm, Deloitte had already predicted an average inflation of 11.9%t for 2025.

Databank Research said it expect Ghana's monetary landscape to stabilise. This will potentially prompt the Monetary Policy Committee (MPC) of the Bank of Ghana to adopt a cautious approach to policy easing.

“We expect Ghana's monetary landscape to stabilise, with the inflation rate trending towards a target range of 10% to 12% by the end of 2025, potentially prompting the Monetary Policy Committee (MPC) of the Bank of Ghana to adopt a cautious approach to policy easing. With improving economic indicators and international support, we expect inflation to decline steadily towards the World Bank's projection of 11.5%”, it disclosed in its 2025 Outlook.

“We believe that improving business confidence and moderating broad money amid contractionary monetary policies will help stabilise prices as demand and supply balance. As the global shift towards green energy progresses, we expect decreases in demand, particularly from China, to drive down international oil prices, further suppressing costs for domestic essentials and potentially sustaining a stable monetary environment”, it added.

Ghana's annual consumer inflation climbed for the third month to 23% in November 2024, the sharpest since May 2024, accelerating from 22.1% in the prior month.

Upward pressure came mostly from food prices (25.9% vs 22.8% in October), especially for staple items like beans and yams.