When we think of inflation, that creeping rise in prices that makes our daily shopping bills bigger, it’s often tempting to blame imported goods. After all, they come from far away, and global price hikes seem to hit them hard. But the latest report from the Ghana Statistical Service for July 2025 tells a slightly different story.
Out of the top 20 things pushing inflation up in Ghana, only two are imported: vegetable oil and rice. Everything else, from smoked herrings to yams and even cinema tickets, is homegrown. That means most of the price rises are happening right here in Ghana.
Imported vegetable oil saw a whopping 52% jump compared to last year. That’s despite a small dip last month. Meanwhile, imported rice prices also climbed by over 11% year-on-year. These two staples may be few, but they pack a punch, contributing significantly to the rising cost of living.
Why do these imports matter so much? Ghana depends on them. Take rice, for example. Over the past few years, Ghana’s rice imports have fallen nearly in half, from about 805,000 metric tons in 2021 down to 440,000 metric tons in 2023. But don’t think this means we’re eating less rice. Quite the opposite, rice imports are expected to bounce back to nearly a million tons this year as demand grows faster than local production can keep up.
And the money involved is huge. Rice imports cost Ghana around $286 million in 2023 alone. With total imports valued at about $16.3 billion, rice might be just a small piece of the puzzle, but it’s an important one for our dinner tables.
Vegetable oil is no different. Though exact import numbers are tricky to come by, the price for imported vegetable oil jumped about 22% last year, with costs soaring to around $1,500 per ton. That means when the global market shifts, it hits our pockets, especially since vegetable oil is a kitchen staple in most Ghanaian homes.
But what about the rest of the inflation story? Local products are still driving most of the price increases. Whether it’s smoked herrings, yam, ginger, or even the price of a movie ticket, local supply issues and demand pressures are making life more expensive for everyday Ghanaians.
The good news? Only two imported items made the list of top inflation drivers. That shows our local markets are holding up well. The not-so-good news? We still depend heavily on these imports for some of our most basic foods. If global prices keep rising or supply chains get disrupted, it could hit us hard.
