APA – Accra (Ghana)
The Government Statistician, Prof. Samuel Kobina Annim has announced that Ghana’s inflation dropped to 40.1 %, in August 2023, down from 43.1% in July thereby recording the country’s lowest point in 10 months.
Prof. Annim told journalists on Wednesday in Accra that the annual inflation, which recorded a 3% drop in August, represented the most gradual rate of change since October 2022.
He attributed the decline to the reduction in food prices as food inflation dropped from 55% in July to 51.9% in August, while non-food price growth from 33.8% to 30.9%.
The Government Statistician also disclosed that said non-food inflation fell to 30.9% in August, down from 33.8% in July, indicating that personal care, social protection and miscellaneous goods and services (56.3%), furnishings, household equipment and routine household maintenance (52.6%), housing, water, electricity, gas and other fuels (42.2%) drove the non-food inflation rate.
Local media reports quoted Prof Annim as saying that inflation for locally produced items increased to 42.4% in August from 37.5% in July, while inflation for imported items fell to 36.2% in August from 45.7% in July.
On regional inflation, he said that the North East Region recorded the highest inflation rate of 85.5%, while Ahafo region recorded the lowest rate of 36. 9%.
GIK/APA
Ghana’s inflation rate dips to 40.1% in August – Prof Annim
