Ghana Inflation Rate Slows to 11.5% in August

In August of 2013, Ghana’s annual inflation rate eased for the first time in eight months to 11.5 percent, from 11.8 percent in the previous month, due to lower noon-food prices.

Year-on-year, prices of food and non-alcoholic beverages increased 7.9 percent, 0.6 percentage points higher than the 7.3 per cent recorded in July. Cost of fish and seafood recorded the highest increase (10.7 percent), followed by prices of fruit (10.6 percent) and vegetables (8.2 percent).

The non-food group year-on-year inflation rate slowed to 14.2 percent in August, compared to 15.4 percent in July. Miscellaneous goods and services recorded the highest rate of 17.2 percent followed by clothing and footwear (16.7 percent), transport (16.6 percent), furnishing, household equipment and routine maintenance (16.5 percent) and housing, water, electricity and other utilities (15.9 percent). Inflation was lowest in the Communications subgroup (1.5 percent).

On a month-over-month basis, inflation rate declined 0.7 percent, from 1.3 percent in July.

Ghana Inflation Rate Slows to 11.5% in August

Ghana Statistical Service | Joana Taborda |
9/16/2013 3:55:13 PM