Consumer inflation rises to 16.9 per cent

The annual consumer price inflation of the country rose to 16.9 per cent in August from 16.7 per cent in July,

the Ghana Statistical Service (GSS) said in Accra yesterday that year-on-year non-food inflation for August was 21.5 per cent, compared with 21.2 per cent recorded in July.

According to the GSS, food inflation was 8.5 per cent, down from 8.6 per cent in July.

The year-on-year inflation rate measured by the CPI from January to June were 19.0 per cent, 18.5 per cent, 19.2 per cent, 18.7 per cent, 18.9 per cent and 18.4 per cent respectively.

This means that consumer inflation has been unstable since the beginning of the year.

However, inflation is projected to fall in the medium term as a result of an International Monetary Fund programme the country began to implement last year to restore balance to the economy.

The CPI measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption.

 

email
Print Friendly

Leave a Comment