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September 23, 2020


Inflation for August falls to 10.5%

Sep 10, 2020

The year-on-year inflation rate as measured by the Consumer Price Index (CPI) was 10.5 per cent in August 2020, which is 0.9 percentage points lower than July 2020 the Ghana Statistical Service announced on Wednesday, September 9, 2020.

This rate of inflation for August 2020 is the percentage change in the CPI over the twelve-month period, from August 2019 to August 2020.

The monthly change rate for August 2020 is -0.4 per cent.

The Food and Non-alcoholic beverages inflation rate recorded a year-on-year inflation rate for August is 11.4 per cent, 2.3% lower than 13.7% recorded for July 2020.

Two subgroups recorded inflation rates higher than the group’s average rate of 13.7 per cent, they are Vegetables (21.3%), Fish and other Seafood (14.3%) and this translates to Food being the predominant driver of year-on-year inflation in August.

The Non-Food group recorded a year-on-year inflation rate of 9.9 per cent in August 2020.

The Non-Food inflation for August 2020 is 0.2 percentage point higher than the 9.7 per cent recorded for July 2020.

In terms of the region, Greater Accra recorded the highest inflation rate of 13.5 percent, whilst Volta region registered the lowest inflation rate of 4.7 percent.

Food inflation was the lowest in the northern region (3.4 percent), whereas the Volta region registered the lowest non-food inflation of 4.3 percent.




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