Ghana’s inflation rate hits 33.9%

The national year-on-year inflation rate was 33.9% in August 2022 which is 2.2 percentage points higher that the recorded 31.7% in July, 2022, the Ghana Statistical Service (GSS) has said.

This means that in the month of August 2022 the general price level was 33.9 % higher than in August 2021.

The month-on-month inflation between July 2022 and August 2022 was 1.9 %.

Addressing a news conference in Accra on Wednesday( 14 September) Prof Samuel Kobina Annim, said the inflation rate for August was mainly driven by transport and utilities.

Regional breakdown
Western Region recorded highest food inflation (47.0%) and Eastern Region, the highest non-food inflation (42.0%). Eastern Region recorded the overall highest inflation (41.0%) followed closely by Western Region (40.2%) and Greater Accra Region (39.3%).

Transport (68.7%) recorded the highest rate of inflation in the Eastern Region, for food inflation in the Western Region, Fish and Other Seafood had the highest rate of inflation of 64.0%.