Ghana’s year-on-year inflation rate declined further to 4.6 percent in July 2026, down from 5.3 percent in June, as easing food prices continued to drive down overall consumer pric
The report indicates that ghana’s year-on-year inflation rate declined further to 4.6 percent in July 2026, down from 5.3 percent in June, as easing food prices continued to drive down overall consumer price growth.
It further notes that the latest Consumer Price Index (CPI) data released by the Ghana Statistical Service (GSS) shows inflation fell by 0.7 percentage points from the previous month and by 7.5 percentage points from the 12.1 percent recorded in July 2025, signalling a sustained improvement in price stability.
Government Statistician, Dr. Alhassan Iddrisu stated while prices continue to increase, they are doing so at a much slower pace than a year ago, reflecting continued moderation in inflationary pressures.
On a month-on-month basis, inflation slowed further to 0.1 percent in July from 0.2 percent in June, suggesting consumer prices were almost unchanged during the month.
The Consumer Price Index also increased to 271.1 in July, up from 259.1 in June, reflecting changes in the overall price level based on the 2021 CPI basket.
Food inflation remained the main factor behind the decline in headline inflation.
Year-on-year food inflation eased to 3.1 percent in July from 3.9 percent in June, while month-on-month food inflation fell to -0.1 percent, indicating that average food prices declined slightly during the month.
The GSS described the development as evidence that “food relief is real,” noting that slowing food inflation is easing pressure on household shopping baskets.
Among the products recording the biggest price declines over the past year were kontomire (cocoyam leaves), whose average price dropped by 41.2 percent, garden eggs (34.5%), maize (32.9%), pawpaw (26.8%), millet (26.4%), guinea corn/sorghum (22.3%), beans (20.6%), lime (19.8%), local rice (16.0%), and Bambara beans (15.7%).
Ginger, tomatoes and mangoes record biggest price increases
Despite the easing in overall food inflation, several products experienced significant price increases during the period.
According to the GSS, ginger more than doubled in price, recording the highest annual increase of 111.3 percent.
Other products registering substantial increases included mangoes (89.0%), shrimps (67.1%), bananas (45.9%), fresh tomatoes (43.4%), fresh coconut (39.2%), avocado pear (32.9%), palm fruits (32.7%), cashew (29.1%), as well as parking space and related services (28.3%).
The Statistical Service noted that the national inflation figure masks significant differences across individual products, with some items becoming considerably cheaper while others experienced sharp price increases.
