The year-on-year inflation rate for August 2023 was 40.1%, the Ghana Statistical Service (GSS) has announced.
This means that in the month of August 2023 the general price level was 40.1% higher than August 2022.
This is the first time in five months that the rate of inflation has declined.
The year-on-year inflation rate for July 2023 was 43.1%. The figure represents a three percentage points drop.
The month-on-month inflation between July 2023 and August 2023 was -0.2%.
Food inflation for August was 51.9% as compared with July’s food inflation at 55.0%
The month-on-month food inflation was -0.3%. Also non-food inflation was 30.9% compared with 33.8 % recorded in July. The month-on-month non-food inflation was -0.2%.
The inflation for locally produced items was 42.4% whiles that of imported items was 36.2%.