Ghana’s inflation rate for the month of August increased to 33.9%, up from 31.7%, in July 2022, according to the Government Statistician, Prof. Samuel Kobina Annim.
Prof, Annim told journalists on Wednesday in Accra that the month-on-month inflation between July 2022 and August 2022 was 1.9% and that the high inflation rate in August was driven mainly by transportation and utilities.
Local media reports on Thursday quoted Prof. Annim as saying that the inflation rate was driven by Housing, Water, Electricity, Gas and Other Fuels (46.7%); Transport (45.7%); Furnishings, Household Equipment and Routine Household Maintenance (44.7%); Recreation, Sport and Culture (36.4%); Personal Care, Social Protection and Miscellaneous Goods and Services (36.0%) and Food and Non-Alcoholic Beverages (34.4%).
According to him, all the six divisions recorded inflation rates higher than the national average.
He explained that food inflation increased to 34.4% from 32.3% in July 2022 and non-food inflation rose to 33.6% in August 2022, from 31.3% in July.
It will be recalled that the last time Ghana recorded such high inflation figure was 21 years ago.
GIK/APA