The Ghana Statistical Service (GSS) is calling on businesses to rethink their operational strategies in the face of shifting inflation dynamics, urging a stronger focus on local sourcing and streamlined product offerings to protect against rising costs.
In its July 2025 Consumer Price Index (CPI) and Inflation Report, the GSS reported a year-on-year inflation rate of 12.1 percent, the lowest since October 2021 and the seventh consecutive monthly decline. The data shows a continued cooling of prices, but officials warn that underlying cost pressures remain, particularly for imported goods and non-essential inventory.
“Shift to locally sourced materials where viable,” the report advises, noting that domestic sourcing can help businesses cut exposure to exchange rate fluctuations and global price shocks. In addition, the GSS recommends simplifying product lines to focus on items in high demand, reducing the risk of tying up capital in slow-moving or volatile stock.
The Service’s latest figures highlight that imported goods inflation dropped to 10 percent in July, down from 12.5 percent in June, while locally produced items recorded 12.9 percent inflation.
Although the decline is encouraging, the GSS cautions that both categories are still experiencing price increases month-on-month, 0.1 percent for imports and 0.9 percent for local products.
For many businesses, these figures underline the importance of operational efficiency. Industry analysts say the GSS’s recommendations align with broader calls for companies to localise supply chains, control input costs, and focus on products with consistent turnover to maintain profitability during economic uncertainty.
