As inflation on Ghana-made goods cools faster than on imports, the Ghana Statistical Service (GSS) has a message for businesses: rethink your sourcing and pricing strategy.
In its June 2025 Consumer Price Index (CPI) release, GSS reported that inflation for locally produced items fell from 19.2% in May to 14.0% in June. That’s a steeper drop than the decline in imported inflation, which eased from 16.4% to 12.5%.
“With inflation on locally produced goods declining faster than imported ones, businesses can reduce exposure to global supply shocks by increasing local sourcing, especially for food, packaging, and logistics inputs,” the Service advised.
Month-on-month, prices on the market actually dropped by 1.2% marking the first significant deflation in over a year. Core inflation (which strips out energy, utilities and transport) also plunged, from 19.5% to 8.3%, showing what GSS called a “real sustained shift in prices.”
But as prices ease, GSS is urging companies not to get ahead of themselves. “Businesses could practice strategic pricing, not sharp increases, given the disinflation and even month-on-month deflation as consumers are more price-sensitive,” the report stated.
Food inflation, still a major driver of the national index, also fell to 16.3%, down from 22.8% the month before. Non-food inflation followed a similar trend, easing to 11.4% in June. Services inflation saw the sharpest month-on-month drop: a 3.3% decline.
With prices falling and consumers watching closely, businesses are being nudged to play the long game.
For firms across Ghana, retailers, manufacturers, logistics providers, this may be the time to deepen local supply chains, stabilize margins, and build consumer trust. Inflation may be cooling, but competition for consumer loyalty is heating up.
