Ghana’s year-on-year inflation rate dropped to 12.1 per cent in July 2025 from 13.7 per cent in June, marking the seventh consecutive month of decline and the lowest inflation rate recorded since October 2021, the Ghana Statistical Service (GSS) has announced.
On month-on-month inflation rate of 0.7 per cent showed that some price increases still persist.
This means that prices in July were, on average, 12.1 per cent higher than in July 2024, while the downward trend points to easing inflationary pressures.
The GSS in a press statement copied to The Ghanaian Times in Accra yesterday said the main drivers of inflation in July were the Food and Non-Alcoholic Beverages, Housing, Water, Electricity, Gas and Other Fuels, and Clothing and Footwear divisions, which together contributed 79.3 per cent of total inflation.
Since peaking at 23.8 per cent in December 2024, inflation had dropped by 11.7 percentage points, reflecting a notable and sustained decline.
The GSS said food inflation, which remained the largest contributor to the overall rate, dropped from 16.3 per cent in June to 15.1 per cent in July, contributing more than half of the 12.1 per cent total.
“Prices of food items rose by 0.6 per cent on a month-on-month basis. Non-food inflation also declined to 9.5 per cent in July from 11.4 per cent the previous month, showing faster disinflation in sectors such as housing, transport, education and healthcare. However, non-food prices rose by 0.7 per cent over the same period,” the statement, said.
The GSS said inflation for locally produced goods fell to 12.9 per cent from 14.0 per cent in June and accounted for 73 per cent of total inflation and inflation for imported items dropped, from 12.5 per cent to 10 per cent, contributing 27 per cent to the total.
It said the lower imported inflation had been linked to currency stability and reduced global shipping costs and local prices rose by 0.9 per cent month-on-month, while imported items saw a marginal increase of 0.1 per cent.
“Goods inflation, covering items such as food, housing, clothing and electricity, declined by one percentage point to 14.2 per cent, while services inflation, including rent, education, and transport, fell to 6.2 per cent from 9.3 per cent. Goods prices rose by 0.5 per cent between June and July, and services prices increased by 1.3 per cent,” the statement, said.
The GSS said Upper West Region recorded the highest inflation at 24.8 per cent, down from 32.3 per cent in June but still more than twice the national average and the Central Region posted the lowest rate at 7.7 per cent, down from 11.1 per cent, highlighting the need for region-specific policy responses.
Ghana’s year-on-year inflation rate dropped to 12.1 per cent in July 2025 from 13.7 per cent in June, marking the seventh consecutive month of decline and the lowest inflation rate recorded since October 2021, the Ghana Statistical Service (GSS) has announced.
On month-on-month inflation rate of 0.7 per cent showed that some price increases still persist.
This means that prices in July were, on average, 12.1 per cent higher than in July 2024, while the downward trend points to easing inflationary pressures.
The GSS in a press statement copied to The Ghanaian Times in Accra yesterday said the main drivers of inflation in July were the Food and Non-Alcoholic Beverages, Housing, Water, Electricity, Gas and Other Fuels, and Clothing and Footwear divisions, which together contributed 79.3 per cent of total inflation.
Since peaking at 23.8 per cent in December 2024, inflation had dropped by 11.7 percentage points, reflecting a notable and sustained decline.
The GSS said food inflation, which remained the largest contributor to the overall rate, dropped from 16.3 per cent in June to 15.1 per cent in July, contributing more than half of the 12.1 per cent total.
“Prices of food items rose by 0.6 per cent on a month-on-month basis. Non-food inflation also declined to 9.5 per cent in July from 11.4 per cent the previous month, showing faster disinflation in sectors such as housing, transport, education and healthcare. However, non-food prices rose by 0.7 per cent over the same period,” the statement, said.
The GSS said inflation for locally produced goods fell to 12.9 per cent from 14.0 per cent in June and accounted for 73 per cent of total inflation and inflation for imported items dropped, from 12.5 per cent to 10 per cent, contributing 27 per cent to the total.
It said the lower imported inflation had been linked to currency stability and reduced global shipping costs and local prices rose by 0.9 per cent month-on-month, while imported items saw a marginal increase of 0.1 per cent.
“Goods inflation, covering items such as food, housing, clothing and electricity, declined by one percentage point to 14.2 per cent, while services inflation, including rent, education, and transport, fell to 6.2 per cent from 9.3 per cent. Goods prices rose by 0.5 per cent between June and July, and services prices increased by 1.3 per cent,” the statement, said.
The GSS said Upper West Region recorded the highest inflation at 24.8 per cent, down from 32.3 per cent in June but still more than twice the national average and the Central Region posted the lowest rate at 7.7 per cent, down from 11.1 per cent, highlighting the need for region-specific policy responses.
BY KINGSLEY ASARE