Ghana’s Inflation Rate for August Goes Up to 33.9%

Ghana’s inflation for August 2022 jumped to 33.9% up from 31.7% in July 2022.

The country recorded 1.9% month-on-month inflation between July 2022 and August 2022.

Government Statistician, Prof. Samuel Annim disclosed this at a press conference on Wednesday, September 14, 2022, when he gave a breakdown of the Consumer Price Index (CPI) and Inflation for 2022.

Food inflation (0.437) was 34.4% from 32.3% of last month. The average over the last 12 months was 21.3%, and Month-on-month food inflation was 1.8%.

Non-food Inflation (0.563) was 33.6%. Last month this was 31.3% and average over the last 12 months was 19.3% and month-on-month Non-Food inflation was 2.0%.

Inflation for locally produced items was 33.4% and inflation for imported items was 35.2%.”

The rate recorded in August is however below market forecasts of 34.3%.

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