Finance Minister Dr. Cassiel Ato Forson says the government is taking bold steps to tackle inflation and stabilize Ghana’s economy. Addressing Parliament during the mid-year budget review, he announced a raft of measures already showing results.
According to that Finance Minister, government is rolling out a comprehensive plan to bring down inflation and stabilize the economy. Finance Minister Dr. Cassiel Ato Forson told Parliament that the strategy rests on five key pillars.
First, the government is tightening its spending and borrowing through strong fiscal consolidation. Authorities are also managing the exchange rate to ease inflationary pressure on imported goods.
Dr. Forson said targeted interventions are helping reduce the cost of essential items such as transportation and utilities—major components of the Consumer Price Index.
The Bank of Ghana, he noted, is applying tight monetary policy and effective liquidity management tools to sustain the disinflation momentum.
On the agricultural front, the government has launched an “Agriculture for Economic Transformation” agenda aimed at reducing food inflation and driving growth.
So far, the results are encouraging.
Consumer price inflation, according to the Minister, has dropped from 23.8 percent in December 2024 to 13.7 percent in June 2025. Producer price inflation also fell significantly—from 26.1 percent to 5.9 percent over the same period.
Food inflation, he revealed, has seen a sharp decline as well—from 27.8 percent in December to 16.3 percent by June.
The Minister credits the progress to prudent spending, tight monetary policy, stronger central bank reserves, and a firming Ghana cedi.
Dr. Forson expressed confidence that the government will hit its end-of-year inflation target of 11.9 percent earlier than expected.
The Finance Minister insisted these results prove the government’s economic plan is working—and promises to keep pushing policies that protect the pockets of Ghanaians.
