 has enough leeway to resume interest rate cuts, which could begin at its July Mon){kind=link}
According to professional services firm Deloitte, the Bank of Ghana (BoG) has enough leeway to resume interest rate cuts, which could begin at its July Monetary Policy Committee (MPC) meeting, given the ongoing disinflationary trend.
The Ghana Statistical Service (GSS) reports that the inflation rate for June 2025 is 13.7%. According to Deloitte, Ghana’s inflation rate is probably going to be in the single digits by the end of the year.
“Ghana is likely to end 2025 with an inflation rate in single digits, below the BoG’s revised end-2025 target of 12%,” Deloitte said in a report titled “West Africa Inflation”.
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At a press conference in Accra on Wednesday, July 2, 2025, Government Statistician Dr. Alhassan Iddrisu stated that a notable slowdown in the overall price levels of goods and foodstuffs was a contributing factor in the decline.
The development, according to Dr. Alhassan Iddrisu, indicates that the factors causing inflation in recent months are lessening.
This year’s May and June general price levels fell for the first time in a long time, resulting in a 1.2 per cent deflation.
“the downward inflationary trend over the last 6 months provides some consistency and assurance of real sustained shift in prices,” Dr. Iddrisu stated.
Bono region had the lowest regional inflation rate of 8.4%, while the Upper West region had the highest at 32.3%, mostly due to food and utility inflation.
Ghana|Atinkaonline.com|Najat Adamu