In Summary:
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Boakai claims inflation under his administration had fallen to 4% by December 2025, down from 10% when he was inaugurated in 2024
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We fact-checked his claim by reviewing the Consumer Price Index and found it to be correct.
During his State of the Nation address, President Joseph Nyuma Boakai claimed that inflation fall to 4 percent by December 2025, down from 10 percent when his administration was inaugurated into office.
The Liberian leader made this claim while highlighting the state of the economy on Capitol Hill in Monrovia.
The claim
Said President Boakai: “Inflation fell to 4% by December 2025, down from 10% when we took over in 2024.”
Rating Justification
To verify this claim, we reviewed the Liberia Consumer Price Index (LCPI). The CPI is the official measure used by the Liberia Institute of Statistics and Geo-Information Services (LISGIS) to track changes in the prices of goods and services that households in Liberia commonly buy over time, and it is updated monthly.
The review shows that the headline inflation as of December 2025 stood at 4.0 percent.
Additionally, we reviewed the LISGIS data for December 2023, the last month of the Weah administration.
According to the data, the Year-on-Year Inflation Rate as measured by the CPI was 10.01 Percent. This was the inflation rate for December, which was published in January 2024, before the Boakai administration.
Conclusion
Based on these findings, we conclude that Pres. Boakai’s claim that inflation fell to 4% by December 2025, down from 10% when his administration was inaugurated, is correct.
According to the Consumer Price Index for Liberia, by December 2023, before the Boakai administration took office, headline inflation was 10.01%, and by December 2025, it had dropped to 4.0%