Top 10 African countries with the cheapest goods in Q3 2025

According to Nigeria’s National Bureau of Statistics, the country’s annual inflation rate fell to 18.02% year-on-year in September, down from 32.70% in September 2024. indicating a rare respite following years of persistent pricing pressure.

In Ghana, inflation fell even more sharply to 9.2% in September 2025, from 21.5% the same time last year, as government initiatives and tighter monetary measures took effect.

While these percentages are still high by global standards, the steady cooling of consumer prices is a good indication for two economies that have seen currency depreciation, rising gasoline costs, and diminished purchasing power.

Ordinary folks benefit directly from lower consumer costs since it increases their purchasing power. When inflation slows, a given amount of money can purchase more products and services.

Lower costs provide instant relief and stability to millions of Nigerians and Ghanaians who spend a significant portion of their income on necessities such as food, transportation, and shelter.

For businesses, a decrease in inflation reduces operational uncertainty.

Manufacturers and service providers in Nigeria and Ghana have struggled to prepare for the future due to unpredictable input prices and currency changes.

In a nutshell, lower consumer prices frequently indicate that broader macroeconomic conditions, such as exchange rate stability and interest rates, are improving.

Falling inflation frequently leads to lower interest rates, as central banks become more comfortable loosening monetary policy.

When consumer prices stabilize, investors believe the economy is becoming more predictable.

Sustained disinflation in Nigeria’s naira and Ghana’s cedi, both of which have experienced severe depreciation, can attract foreign portfolio inflows and relieve exchange rate pressure.

With that said, here are the African countries with the lowest consumer prices currently, as updated by the International Monetary Fund in its latest October report.