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Ghana's annual consumer inflation fell to 11.5% in August 2025, a new low since October 2021, extending its downward trend for the eighth month. The cedi saw strength from rising commodity prices, supporting Ghana’s declining inflation, but some signs of weakness have recently emerged. Food inflation cooled down to 14.8% in August from 15.1% a month earlier, while non-food price growth eased to 8.7% from 9.5%. On a monthly basis, the CPI decreased by 1.3% in August, after a 0.7% rise in the previous month.