Ghana’s annual inflation rate eased to 4.6% in July 2026, down from 5.3% in June, according to the latest Consumer Price Index (CPI) report released by the Ghana Statistical Service (GSS). The latest figure represents a 0.7 percentage point decline, signalling a continued slowdown in inflationary pressures.
The GSS data showed that the decline in Ghana’s inflation was driven by lower inflation in both food and non-food items. Food inflation edged down to 6.1% in July from 6.3% in June, while non-food inflation dropped more significantly to 3.1%, compared with 3.9% the previous month.
On a month-on-month basis, the Consumer Price Index recorded an inflation rate of 0.1% in July, lower than the 0.2% recorded in June. During the month, food prices rose by 0.5%, while non-food prices declined by 0.1%, reflecting slower overall price growth.
The report further indicated that inflation for locally produced items fell to 5.9% from 6.7% in June, while inflation for imported items declined from 2.3% to 2.0%. On a monthly basis, prices of locally produced goods increased by 0.1%, whereas imported goods recorded a 0.1% decrease.
By classification, goods inflation slowed to 8.5% in July from 9.4% in June. Services inflation also eased to 1.93%, down from 2.9% a month earlier.
The July CPI report indicates that Ghana’s inflation continued its downward trend, with slower inflation recorded across key categories including food, non-food, locally produced and imported goods.
