Ghana’s year-on-year inflation rate fell to 12.1% in July 2025, down from 13.7% in June.
This marks the seventh consecutive monthly decline and the lowest inflation rate the country has recorded since October 2021.
According to data released by the Ghana Statistical Service (GSS) on August 4, 2025, the slowdown was largely driven by a significant easing in the prices of food items and other essential goods and services.
Government Statistician, Dr. Alhassan Iddrisu, highlighted that this trend signals a gradual reduction in the inflationary pressures that have gripped the economy in recent months.
On a month-on-month basis, the general price level rose by 0.7% between June and July.
Despite this, food inflation declined by 1.2 percentage points to 15.1% year-on-year, while the prices of food items increased by 0.6% over the same period.
Non-food inflation also saw a notable drop, falling by 1.9 percentage points to 9.5%, even as prices in this category increased by 0.7% month-on-month.
Goods inflation stood at 14.2% in July, representing a 1.0 percentage point decline from the previous month.
However, prices of goods still rose by 0.5% compared to June.
Meanwhile, services inflation recorded the sharpest year-on-year decline, dropping by 3.1 percentage points to 6.2%, although the price of services increased by 1.3% month-on-month.
In terms of the origin of goods, inflation for locally produced items was 12.9%, higher than the 10.0% recorded for imported goods.
Both categories saw a decline, with imported inflation dropping more sharply by 2.5 percentage points, compared to a 1.1 percentage point decline for local items.
Month-on-month, local prices increased by 0.9%, while imported items rose by just 0.1%.
Regionally, the Upper West Region continued to record the highest inflation rate at 24.8%.
Although this is a significant improvement from the 32.3% recorded in June, it remains more than double the national average of 12.1%. In contrast, the Central Region recorded the lowest inflation at 7.7%.
