Inflation rate hits 33.9% in August 2022

Ghana’s inflation for August 2022 rose to 33.9 percent.

This was announced by the Government Statistician, Prof. Samuel Annim 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 for August 2022 was 34.4 percent as against 32.3 percent in July 2022, while non-food inflation was 33.6 percent in August 2022 as against 31.3 percent in July of the same year.

Year-on-year inflation for housing, water, electricity, gas and other fuels had the highest inflation rate recorded at 46.7 percent with transport recording the second highest at 45.7 percent.

Data from the Ghana Statistical Service (GSS) however show that the country recorded its lowest month-on-month rate of inflation for 2022 at 1.9 percent from 3.1 percent in July.

Inflation for locally produced items was marginally lower than that for imported items, with 33.4 percent and 35.2 percent respectively