Inflation for August drops to 40.1%

Inflation for August drops to 40.1%

By Precious Okure-Asamoah

The Ghana Statistical Service (GSS) has announced the Consumer Price Index (CPI) and rate of inflation at a press briefing on Wednesday, September 13, 2023.

GSS announced 40.1 percent as the inflation rate for the month of August.

The service also announced a drop in food inflation from 55.0 percent to 51.9 percent in August. Non-food inflation also dropped from 33.8 percent to 30.9 percent.

The GSS mentioned a rise in inflation for locally-produced items which was from 37.5 percent to 42.4 percent.

It also mentioned that this is a whopping 3.0 percent drop from the rate recorded in July.

The service mentioned that the factor which bettered Ghana’s inflation is a drop in that for imported items which was from 45.7 percent to 30.2 percent.

North East Region recorded the highest Regional inflation of 60.1 percent whiles Greater Accra Region recorded the lowest with 31.8 percent.

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