August inflation 7.8%

The inflation rate for August 2019 was 7.8 percent, the Ghana Statistical Service (GSS) has announced.

Acting Government Statistician, Professor Samuel Kobina Annim, said at a press conference on Wednesday, 17 September 2019 that the food and non-alcoholic beverages group recorded a year-on-year inflation rate of (8.2) per cent; fruit and nuts (25.2) per cent; cereals and cereal products (10.6) per cent; sugar, confectionery and deserts (9.0) per cent; and ready-made food and other food products (8.3) per cent. They were the major drivers of food inflation.

The non-food group recorded a year-on-year inflation rate of (7.4) percent in August 2019, alcoholic beverages, tobacco and narcotics (12.9) percent; transport (10.2) percent; and housing, water, electricity, gas, and other fuels (9.9) percent were the key drivers of the non-food inflation in August.

At the regional level, the year-on-year inflation rate ranged from 3.9 percent for the Eastern Region to 12.4 percent for the Greater Accra Region. Four regions (Greater Accra, Upper West, Central, and Volta) recorded inflation rates above the national average (7.8) percent. The Eastern Region recorded the least inflation rate of 3.9 percent.

Source: ClassFMonline.com