The Bank of Ghana (BoG) has projected a further decline in inflation by the close of 2025, citing the sustained appreciation of the cedi and disciplined economic management as key drivers of the country’s disinflationary trend.
Speaking at the launch of the Cedi@60 celebrations in Accra, Governor Dr. Johnson Pandit Asiama announced that headline inflation had dropped to 9.4% in September 2025, down from 23.5% at the beginning of the year. This marks the first time in four years that inflation has returned to the central bank’s medium-term target band of 8±2 percent.
Dr. Asiama attributed the progress to a combination of tight monetary policy, fiscal prudence, and the cedi’s strong performance. He noted that the local currency has appreciated by more than 37% against the U.S. dollar this year, earning recognition from the World Bank as Sub-Saharan Africa’s best-performing currency.
Reflecting on the country’s economic turnaround, the Governor recalled that inflation had peaked at over 54% in late 2022—one of the highest rates globally at the time. He emphasized that the current trajectory signals a significant recovery and renewed confidence in Ghana’s macroeconomic framework.
The Cedi@60 initiative, launched as part of the celebrations, was described by Dr. Asiama as a year-long national engagement blending public education, policy dialogue, and historical reflection. “The cedi is more than a currency—it is a symbol of our sovereignty and resilience,” he said. “Our vision is to position it as a future-ready currency: secure in value, smart in function, and sovereign in spirit.”
The Bank of Ghana reaffirmed its commitment to maintaining exchange rate stability, anchoring inflation expectations, and supporting the country’s broader economic recovery efforts.
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