The Ghana Statistical Service (GSS) convened a critical stakeholder engagement on Wednesday, January 15, 2025, to review consumer price inflation trends in 2024.
Held in Accra, the event focused on key consumable items driving inflation and explored strategies for stabilizing prices and fostering economic growth.
Representatives from government agencies, academia, and the media participated in the dialogue, emphasizing the multifaceted factors influencing inflation in Ghana. Discussions revolved around the retrospective analysis of consumer price indices (CPI) and their role in computing the annual inflation rate for 2025.
The review highlighted significant price increases in essential goods and services, including bus and trotro fares, imported rice, smoked herrings, and fresh tomatoes. These items, which constitute nearly a third of average household expenditure, have consistently recorded substantial price changes. Median prices for transportation services and staple foods also surged during the period.
Stakeholders acknowledged the need for multisectoral solutions to tackle inflation, with particular focus on improving price stability and enhancing economic resilience. The session provided participants with insights into the trends and drivers of inflation, setting the stage for developing comprehensive strategies to mitigate its impact.
