In July 2023, Ghana's inflation rate has risen to 43.1%, marking an increase from 42.3% observed in June of the same year.

Consequently, the cost of goods and services has seen a surge of 43% over this period.

As reported by the Ghana Statistical Service, the prime driver of inflation was food, contributing to a rate of 55%, while non-food items accounted for 33.8%.

In terms of inflation rates, locally produced goods experienced a rate of 37.5%, whereas imported items were subject to an inflation rate of 45.7%.

Looking at regional variations, the Greater Accra region registered the lowest inflation rate at 31.8%, while the North-East region saw the highest inflation rate at 64%.

Specifically, the categories of food and non-alcoholic beverages witnessed an inflation rate of 55%, whereas personal protection and miscellaneous goods and services recorded an inflation rate of 60.5%.