Inflation for August drops to 40.1%

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The Ghana Statistical Service (GSS) has announced 40.1 percent as the inflation rate for the month of August.

This is a whopping 3.0 percent drop from the rate recorded in July.

Announcing the consumer price index (CPI) and rate of inflation at a press briefing on Wednesday, September 13, the Service also announced a drop in Food Inflation from 55.0 percent in July to 51.9 percent in August.

Non-food Inflation also dropped from 33.8 percent to 30.9 percent.

There was, however, a rise in inflation for locally-produced items, which was from 37.5 percent to 42.4 percent.

Connected to this factor, which bettered Ghana’s inflation, is a drop in that for Imported Items, which was from 45.7 percent to 36.2 percent.

North East Region recorded the highest regional inflation of 60.1 percent while Greater Accra Region was lowest with 31.8 percent.

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