Ghana’s year-on-year inflation rate fell further to 4.6 percent in July 2026, down from 5.3 percent in June, as lower food prices continued to ease pressure on household budgets.
The latest Consumer Price Index (CPI) released by the Ghana Statistical Service (GSS) shows inflation declined by 0.7 percentage points from June and by 7.5 percentage points from 12.1 percent recorded in July 2025, highlighting continued progress in stabilising prices.
Government Statistician Dr. Alhassan Iddrisu said prices are still rising but at a much slower pace than a year ago, reflecting a steady decline in inflationary pressures.
On a month-on-month basis, inflation slowed to 0.1 percent in July from 0.2 percent in June, indicating that consumer prices were largely unchanged during the month.
Food inflation remained the biggest driver of the decline. Year-on-year food inflation dropped to 3.1 percent from 3.9 percent in June, while monthly food inflation fell to -0.1 percent, meaning average food prices declined slightly.
The GSS said the figures show that “food relief is real,” as lower food prices continue to reduce the cost of household shopping. Prices of products such as kontomire, garden eggs, maize, pawpaw, millet, beans and local rice all recorded significant declines over the past year.
However, some items became more expensive. Ginger recorded the sharpest increase at 111.3 percent, followed by mangoes, shrimps, bananas, fresh tomatoes, fresh coconut and avocado pears.
While food prices eased, non-food inflation remained relatively higher at 6.1 percent, down slightly from 6.3 percent in June.
The GSS noted that non-food items accounted for 67.6 percent of total inflation, with services such as transport, rent, healthcare and education continuing to keep prices elevated.
The largest contributors to inflation were rent, fresh tomatoes, ginger, cooked rice, river fish, charcoal, senior high school fees, bus and trotro fares, hotel accommodation and electricity.
Regionally, the North East Region recorded the highest inflation rate at 10.8 percent, while Bono East posted the lowest at -3.8 percent, showing that the cost of living continues to vary across the country.
The latest figures indicate that Ghana’s inflation outlook continues to improve, although rising costs in services remain a key challenge for households.
