The Minister for Food and Agriculture, Eric Opoku, has announced that Ghana’s food inflation has fallen sharply to 9.5 per cent as of October 2025.
He noted that the reduction marks a major turnaround in the country’s food economy, following years of steep price increases that strained households and industries.
He announced this at the Government Accountability Series in Accra on Monday, November 24.
“As of 7th January 2025, when the National Democratic Congress (NDC) assumed office, Ghana’s food import bill had reached alarming levels. About 3 billion dollars was spent annually on basic food items such as rice, poultry, vegetable oils, sugar, and processed goods that could and should be produced locally.
“This not only drained our foreign exchange reserves but also eroded our food self-sufficiency and exposed us to external price shocks.
“Indeed, food prices in Ghana have been on a relentless upward trajectory. Between 2022 and early 2025, the cost of basic food commodities more than doubled in several urban markets.”
The minister added “The most telling indicator of this economic strain was the historic rise in food inflation, which peaked at an unprecedented 61 per cent in January 2023 under the previous administration.
“Though there were marginal reductions thereafter, food inflation remained dangerously high, significantly undermining purchasing power and increasing the cost of living for our people,” he said.
Mr. Opoku explained that when the NDC government took over in January 2025, food inflation was 28.3 per cent, reflecting the fragile macroeconomic environment they inherited.
“Today, due to decisive leadership, prudent interventions, and efforts to stabilise the food system, food inflation has dropped significantly to 9.5 per cent as of October 2025, providing much-needed relief to households and industries alike.”
He, however, indicated that this turnaround is a testament to the importance of resetting Ghana’s agricultural economy.
According to him, this significant milestone begins with the right fundamentals.
Source: Felix Oppong Kyeremeh
