Ghana’s inflation rate drops to 20.9% in July, marking fourth consecutive month of decline
Ghana’s consumer inflation has continued its downward trend, falling to 20.9% year-on-year in July, marking the fourth consecutive month of decline. This represents a 2.1 percentage point drop from June's 23.0%, indicating a gradual easing of the economic pressures that intensified throughout 2023. In July, food inflation was recorded at 21.5%, slightly higher than non-food inflation, which stood at 20.5%. Notably, the inflation rate for imported items was 15.6%, significantly lower than the 23.3% observed for locally produced goods. This ongoing decline in inflation, which began in March 2024 when the rate was 25.8%, signals a steady cooling of price...
