Ghana’s Inflation Could Hit 9% by December, Says Leading Economist – Prof. Baah-Boateng
Ghana’s inflation rate could fall to as low as 9% by the end of the year if current economic trends hold, according to prominent economist Professor William Baah-Boateng.
This encouraging forecast comes on the heels of recent data from the Ghana Statistical Service showing inflation dropped to 11.5% in August—marking the eighth straight month of decline and dipping below the government’s year-end target of 11.9%. The current rate is the lowest recorded in nearly four years.
Speaking on The Point of View on Monday, Prof. Baah-Boateng pointed to several factors behind the continued slowdown in price growth. These include a stronger cedi earlier in the year, the onset of the harvest season which is easing food prices, and disciplined fiscal and monetary policies.
“If the exchange rate remains stable around GH₵12,” he said, “we could see inflation close the year at about 9%.”
The consistent drop offers a glimmer of hope for households and businesses that have been navigating a challenging cost-of-living environment. Month-on-month inflation also fell by 1.3% in August, reinforcing the trend toward greater price stability.
While cautious optimism is growing, the economist emphasized that maintaining exchange rate stability and supportive seasonal conditions will be key to hitting the year-end target.
