23.9 C
Tuesday 15 June 2021
HomeAfricaGhana inflation slides on lower food prices

Ghana inflation slides on lower food prices

Inflation in Ghana slid to 19.65 per cent in August as a r esult of lower food prices, the Ghana Statistical Service (GSS) said on Friday.

Government Statistician, Dr Grace Bediako, said this was a decline of 0.85 perce ntage points from 20.50 per cent in July.

She said the rate for August was driven primarily by the non-food sub-sector, wi th that group registering an inflation of 23.91 per cent as against 14.75 per ce n t for the food group.

“The fall in prices in the food category is helping to contain the overall infla tion and has been responsible for the lowering of the rate,” Dr Bediako said.

Trends from the past three years indicate that August, September and October are usually periods of declining inflation.

“Unless something out of the ordinary happens, we can safely say the rates might go down further in September and October,” Dr Bediako said.

However, the rate is likely to go up in November and December because of high sp ending before and during the Christmas festivities.

“Looking at the trend, there is no reason to suggest that the rate will go down during the last two months of the year unless food prices hold out,” she added. 




Please enter your comment!
Please enter your name here

- Advertisement -