Ghana’s headline inflation declined further to 11.5 percent in August, a 0.6-percentage-point drop from the 12.1 percent recorded in July, according to the latest data from the Ghana Statistical Service (GSS) on Wednesday.
“This is the eighth consecutive decline in headline inflation and the lowest since October 2021,” GSS Government Statistician Alhassan Iddrisu said during the monthly briefing.
Iddrisu said the sharp downward trend was due to lower food and non-food inflation, adding that all 16 administrative regions in the West African exporter of cocoa, gold, and crude oil had recorded a decline in inflation.
Compared to July, food inflation declined by 0.3 percentage points to 14.8 percent in August, while non-food inflation decreased by 0.8 percentage points to 8.7 percent.
The inflation rate for locally produced and imported items stood at 12.2 percent and 9.5 percent, respectively. Furthermore, the inflation rate for August achieved the year-end target of 11.9 percent ahead of schedule. Enditem
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