Ghana’s inflation eases to 20.4% in August, food prices drive slowdown
“The decline in food inflation was driven by falling prices in key categories, including milk, oils and fats, and fruits and nuts,” Annim said.
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Ghana’s inflation rate eased slightly to 20.4% in August from 20.9% in July, according to official data released by the Ghana Statistical Service on Thursday.
The marginal drop was primarily due to a reduction in food prices, which saw inflation in the sector fall to 19.1% from 21.5% the previous month, government statistician Samuel Kobina Annim said in Accra.
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“The decline in food inflation was driven by falling prices in key categories, including milk, oils and fats, and fruits and nuts,” Annim said.
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However, the report noted an uptick in non-food inflation, which rose to 21.5% in August from 20.5% in July. Overall, prices across all categories fell by 0.7% over the month.
August marked the fifth consecutive month of declining inflation in the West African nation, yet the rate remains well above the central bank’s medium-term target of eight percent, with an acceptable margin of two percentage points.
Source:dailymailgh.com
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