Ghana’s inflation rate has slowed marginally to 20.4% in August, down from 20.9% in July, as reported by the Ghana Statistical Service.
This slight decrease is attributed to a drop in food inflation, which eased to 19.1% from 21.5% the previous month.
The reduction in food prices, particularly for items like milk, oils and fats, and fruits and nuts, played a significant role in this trend.
Government Statistician Professor Samuel Kobina Annim highlighted that the slowdown is a result of falling prices in these key food categories.
Despite this positive shift, non-food inflation rose to 21.5% from 20.5% in July, reflecting a broader trend of rising costs outside the food sector. Overall, prices across all categories fell by 0.7% over the month.
August marks the fifth consecutive month of declining inflation in Ghana.
However, inflation continues to exceed the central bank’s medium-term target of 8%, with a permissible margin of two percentage points.
