Ghana inflation may dip below 5% in July as banks face profit pressure from falling rates

Databank Research projects Ghana's consumer inflation for July 2026 to fall between 4.6% and 5.0%, down from 5.3% in June. The easing is attributed to an improved food supply ahead of the August harvest, lower petroleum prices and favorable base‑effect comparisons with July 2025.

A PwC‑led banking survey warns that the same macro‑economic stabilisation – notably a cut of more than 1,400 basis points in the Ghana Reference Rate and a 600‑basis‑point drop in average lending rates – will compress net interest margins. With roughly 70% of banks’ revenue derived from interest income, the sector faces a profitability squeeze and is urged to diversify into digital, fee‑based services.