1. Inflation Hits New Low
July 2025’s year-on-year inflation dropped to 12.1%, the lowest since October 2021, marking seven straight months of decline.
2. Monthly Prices Tick Up
Despite the annual drop, month-on-month inflation rose 0.7%, showing prices increased slightly between June and July 2025.
3. Food vs. Non-Food
Food inflation eased to 15.1%, while non-food inflation fell to 9.5%, both down from June.
4. Imported Items Cool Faster
Imported inflation fell to 10.0%, a bigger drop than locally produced goods, which stood at 12.9%.
5. Services Inflation Plunges
Services inflation dropped sharply to 6.2%, while goods inflation was 14.2%.
6. Regional Extremes
Upper West recorded the highest regional inflation at 24.8%; the Central Region was lowest at 7.7%.
7. Top Inflation Drivers
Smoked herrings, yam, ginger, vegetable oil, and cinema services were the biggest contributors to July’s inflation.
8. Energy Prices Soften
Electricity inflation slowed to 39.1% year-on-year, a sharp drop from June’s 139.3%.
9. Food Prices Show Mixed Movement
While overall food inflation eased, some staples like yam and ginger saw significant month-on-month price jumps.
10. Policy Advice Issued
GSS urged households to buy in bulk, save energy, and for businesses to source locally and cut unnecessary product lines.
So what?
With inflation hitting a near four-year low and the disinflation trend holding steady, Ghana’s economy is showing signs of stability, but month-on-month gains hint that price pressures haven’t disappeared entirely. Policymakers, businesses, and households will need to remain alert to prevent a rebound in inflation.
