Ghana could enjoy low inflation for next four years – Economist

Economist and political risk specialist Dr Theo Acheampong has projected that Ghana’s inflation could remain below 10 per cent over the next three to four years, raising hopes of more stable prices and improved purchasing power for workers.

According to him, the government’s medium-term economic projections suggest that the country could maintain single-digit inflation beyond 2026.

Speaking on Joy News on Monday, November 2, 2026, Dr Acheampong said the outlook was encouraging, particularly for workers concerned about the rising cost of living.

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“The forward projection for prices going forward into the next three to four years in the medium-term budget is all within the sub-10%,” he stated.

His comments come ahead of the presentation of the 2027 Budget, which is expected to outline the government’s plans for economic growth, inflation and public spending.

Dr Acheampong explained that the government’s medium-term budget framework provides estimates of how the economy is expected to perform over the coming years.

He said maintaining inflation below 10 per cent could help workers benefit more from future salary increases, as slower price increases would reduce the pressure on household incomes.

“So basically, you're still in a single-digit inflation environment, and to the extent that that still stays, and you can still offer workers 9%, you can still offer them 10%,” he explained.

This means workers receiving salary increases of 9 or 10 per cent could experience an improvement in their purchasing power if inflation remains below the rate of their pay increases.

However, Dr Acheampong stopped short of guaranteeing that inflation would remain low in 2027 and 2028, stressing that the outlook was based on the government’s economic projections.

His comments suggest that sustaining low inflation will be important in determining whether future salary increases translate into meaningful improvements in living standards.

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Although single-digit inflation does not mean prices will fall, it means the cost of goods and services is expected to rise more slowly, potentially offering some relief to households and businesses.

DR/MA

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