Ghana's Inflation Recorded 7.8 Percent in the Month of August

press release

The year-on-year Inflation rate for August 2019 as measured by the Consumer Price Index (CPI) was 7.8 percent with an index of 108.7 compared with the 9.4 percent recorded in August 2019.

The monthly change in rate for the period under review was 1.6 percent.

The Government Statistician, Prof. Samuel Kobina Anim, who announced this at a press briefing in Accra on Wednesday, stated that the key driver of inflation in August was Alcoholic beverages, tobacco and narcotics with 12.9 percent.

He said the food inflation recorded 8.2 percent, fruits and nuts, 25.2 percent, cereals and cereal products 10.6 percent, sugar, confectionery and deserts 9.0 percent and ready-made food and other food products 8.3 percent as major drivers.

According to the Government Statistician, the non-food group recorded a year-on-year inflation rate of 7.4 percent with alcoholic beverages, tobacco and narcotics recording 12.9 percent, transport 10.2 percent and housing, water, electricity, gas and other fuels recording 9.9 percent.

Touching on the regional performance, Prof. Anim mentioned that four regions; Greater Accra, Upper West, Central and Volta recorded inflation rates above the national average of 7.8 percent, with Eastern region recorded the least inflation rate of 3.9 percent.

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