August inflation dropped to 11.5%, the lowest level in four years, according to data released by the Ghana Statistical
Service (GSS). The figure represents a decline from July’s 12.1% and marks the eighth straight month of slowdown.
Government Statistician, Dr. Alhassan Iddrisu, addressing the press on Wednesday, September 3, said the development places inflation below the government’s year-end target of 11.9%, signaling firmer price stability.
The report showed that food and non-alcoholic beverages remained the largest contributor to inflation, though easing slightly to 14.8% in August from 15.1% in July.
Across the regions, the Upper West Region recorded the highest inflation rate at 21.8% (down from 24.8% in July), while the Central Region posted the lowest at 8.9%, compared to 7.7% the previous month.
Dr. Iddrisu noted that the consistent decline in inflation strengthens confidence in the economy and provides space for policymakers to consolidate the gains achieved so far.
