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HomeBusinessGhana's August Inflation Drops To 40.1%

Ghana’s August Inflation Drops To 40.1%

The August inflation rate, as reported by the Ghana Statistical Service (GSS), was 40.1%.

This represents a massive 3.0 percent decrease from the rate seen in July.

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At a press conference on September 13 to reveal the consumer price index (CPI) and rate of inflation, the Service also noted a decline in food inflation from 55.0 percent in July to 51.9 percent in August.

Additionally, non-food inflation decreased from 33.8 to 30.9 percent.

However, there was an increase in inflation for goods made locally, from 37.5 to 42.4 percent.

This element, which reduced Ghana’s inflation, is also responsible for a decrease in import prices, which fell from 45.7% to 36.2%.

Greater Accra Region had the lowest regional inflation rate at 31.8 percent, while North East Region had the highest regional inflation rate at 60.1%.



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