Ghana’s annual inflation rate slowed to 4.6% in July 2026 from 5.3% in June, marking the first decline in consumer price growth since March and highlighting the country’s steady economic recovery. Government Statistician Alhassan Iddrisu attributed the improvement to lower food inflation and a stable exchange rate, which helped keep imported goods affordable. Food and non-alcoholic beverage inflation eased to 3.1%, while imported inflation fell to 2.0%. The latest reading is significantly lower than the 12.1% recorded a year earlier, reflecting a sharp moderation in price pressures. Despite the encouraging trend, policymakers remain cautious as geopolitical tensions, higher energy costs, and disruptions to global oil and fertilizer markets could reignite inflation in the months ahead.