The Ghana Statistical Service (GSS) has reported that inflation for July 2024 fell to 20.9%, a 1.9 percentage point decrease from June’s 22.8%.
The rate was 2.5 percentage points higher than the rate of 18.4% recorded in July 2023. The GSS attributed the month-over-month decline in the headline inflation rate to a decrease in both food and non-food inflation.
Food inflation fell from 24.0% in June to 21.5% in July, and non-food inflation fell to 20.5%. Imported goods inflation fell from 17.5% to 15.6%, which was attributed to the stability of the cedi in July. However, inflation on locally produced items stood at 23.3% in July.
