The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, says sustained monetary discipline introduced by the central bank has been a key driver of the sharp decline in inflation.

Inflation, which stood at 23.8 percent in 2024, fell significantly to 5.4 percent in December 2025, marking a broad-based disinflation across both food and non-food items.

According to Dr. Asiama, the improvement in price stability is the result of the deliberate policy actions rather than chance.

“This trend reflected the broad-based disinflation process across both food and non-food. Certainly, this has not happened by accident but the result of sustained monetary discipline we brought on board, improved food supply and others,” the Governor said.

He explained that tight monetary policy, supported by improved food supply conditions, has helped ease inflationary pressures across the economy.

Dr. Asiama was speaking after the Asantehene, Otumfuo Osei Tutu II, paid a courtesy call on the central bank, where discussions focused on Ghana’s economic outlook and policy direction.

The Bank of Ghana says it remains committed to maintaining price stability to support sustainable economic growth.