July inflation drops to 4.6% as food prices continue to ease

Ghana’s annual inflation rate declined further to 4.6% in July 2026, down from 5.3% in June, as easing food prices continued to slow the pace of overall price increases.

The latest figures were announced by the Ghana Statistical Service (GSS) in its Consumer Price Index (CPI) report released on Thursday, August 6, 2026.

Speaking at the release, Government Statistician Dr. Alhassan Iddrisu said while prices are still increasing, they are doing so at a much slower pace than a year ago, reflecting continued improvement in inflationary pressures.

“In the space of 12 months, the speed at which prices are rising has fallen by more than half.”

According to him, lower food inflation remained the key factor behind the decline in headline inflation.

The GSS said year-on-year food inflation eased to 3.1% in July from 3.9% in June, while non-food inflation also slowed slightly to 6.1% from 6.3%.

On a month-on-month basis, inflation fell to 0.1% in July from 0.2% in June, indicating that consumer prices were almost unchanged during the month.

The Statistical Service noted that locally produced goods continue to account for the bulk of inflationary pressures, with 86.7% of overall inflation coming from domestic goods and services, highlighting the significant role of local costs such as transport and energy.

According to the GSS, the latest figures signal continued progress in restoring price stability, although services such as transport, housing, education and healthcare remain key drivers of inflation.