If you have noticed that some things you buy have become slightly more expensive in July, though not at the same pace seen in previous months, the main force behind those price increases came largely from goods and services produced within Ghana.
Data from the July 2026 Consumer Price Index shows that locally produced items accounted for the biggest share of inflation during the month, while imported items recorded much slower price increases.
Inflation for locally produced goods and services stood at 5.9% in July 2026, compared with 2.0% for imported items.
The figures mean prices of locally produced items increased nearly three times faster than imported items during the period.
The data further shows that locally produced items accounted for 86.7% of total inflation recorded in July, while imported items contributed 13.3%.
The data indicates that inflation pressures in July were largely driven by domestic factors, as locally produced goods and services accounted for the majority of price increases, while imported items recorded a much lower rate of inflation.
Imported inflation, which measures the pace of price increases for goods brought into the country, declined further to 2.0% in July, from 2.3% in June 2026.
Meanwhile, inflation for locally produced items also slowed, falling from 6.7% in June to 5.9% in July, but remained significantly higher than imported inflation.
The data provides a picture of how price pressures are moving across the economy. While imported goods recorded slower increases, locally produced goods and services continued to account for the larger share of inflation.
Overall, Ghana’s headline inflation eased to 4.6% in July 2026, from 5.3% in June 2026 and 12.1% in July 2025, showing that the pace of price increases has slowed significantly over the past year.
However, the composition of inflation shows that the remaining price increases are now mainly linked to domestic sources, with locally produced items driving the majority of inflation recorded during the month.
