Inflation continues downward trend, reaches 20.9% in July

Ghana's consumer inflation continued its decline, reaching 20.9% year-on-year in July, marking the fourth consecutive month of easing economic pressure.

This 1.9 percentage point drop from June's 22.8% reflects a gradual cooling of price growth that began in April 2024.

Food inflation was slightly higher at 21.5%, while non-food inflation stood at 20.5%.

Notably, inflation for imported items was lower at 15.6%, compared to 23.3% for locally produced goods.

Government Statistician, Professor Samuel Kobina Annim, credited the overall decline to reductions in both food and non-food categories, signaling broader economic improvement.