Inflation shoots up to 33.9% for August – Ghana Statistical Service

Inflation shoots up to 33.9% for August – Ghana Statistical Service

Government Statistician, Prof Samuel Kobina Anim has revealed that Ghana’s inflation for August rose to 33.9 per cent. 

Explaining the situation to the media on Wednesday, September 14th 2022, he pointed out the Consumer Price Index, CPI for August 2022 was 176.3 relative to 131.7 in August 2021 and year-on-year inflation for August 2022 was 33.9 per cent.

Food inflation hit  34.4 per cent as compared to 32.3 per cent in July 2022. The month-on-month inflation for food was 1.8% while the year-on-year inflation for non-food also rose to 33.6 per cent in August 2022 as compared to 31.3 per cent in July this year.

Recording the highest year-on-year inflation for August at 46.7 % was water, electricity, gas and other fuels. Transport recorded the second highest year-on-year at 45.7 per cent while Insurance and Financial Services recorded the lowest in both the year-on-year and month-on-month inflation at 5.4% and 0.1%.

The country, however, recorded its lowest month-on-month inflation for 2022 at 1.9 per cent, down from the 3.1 per cent in July according to information provided by the Ghana Statistical Service.

Also, it was observed that inflation for locally produced items was 33.4 % as compared to the imported goods at 35.2 per cent.

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