Ghana’s inflation picture in July 2026 shows that rising prices are no longer being driven mainly by food. Instead, non-food items such as housing, transport, education, healthcare, insurance, restaurants and other services accounted for the larger share of price increases during the month.
Data from the July 2026 Consumer Price Index shows that 67.6% of the inflation recorded during the month came from non-food categories, while food and non-alcoholic beverages accounted for 32.4%.
This means that of the total price increases measured in July, about 68 pesewas out of every GH₵1 came from non-food items, while about 32 pesewas came from food items.
The figures provide a picture of how prices are moving across the economy and show that while the cost of some food items has become less of a pressure point, everyday expenses outside food remain the bigger contributor to inflation.
Food inflation slowed to 3.1% in July 2026, down from 3.9% in June, meaning food prices increased at a slower pace compared with the previous month. Non-food inflation, although also easing, remained higher at 6.1%, compared with 6.3% in June.
Among non-food categories, services recorded the highest inflation rate at 8.5%, compared with 3.4% for goods. Services include areas such as transport, housing-related costs, healthcare, education, restaurants and accommodation, among others.
This means households may still experience pressure from expenses such as paying for transport, rent, school-related costs, medical services and other regular services, even as food price increases slow.
The data also shows that locally produced items remained the main source of inflation in July. Locally produced goods and services accounted for 86.7% of total inflation, while imported items contributed 13.3%.
Imported items recorded inflation of 2.0%, significantly lower than the 5.9% recorded for locally produced items.
Overall, Ghana’s headline inflation declined to 4.6% in July 2026, from 5.3% in June 2026 and 12.1% in July 2025, showing that price increases across the economy have slowed significantly over the past year.
However, the composition of inflation shows that the remaining price pressures are concentrated more in non-food areas, particularly services, rather than in food markets.
