Food, non-alcoholic beverages driver for high inflation in August

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Inflation
Inflation

Food and non-alcoholic beverages were the dominant drivers for the higher rate of inflation for August 2021, a report on the Consumer Price Inflation (CPI) and Inflation for August 2021, has revealed.

The CPI – a price perspective measure – for August 2021 was 131.7 relative to 120.0 in August 2020.

The Report, issued by Mr John F. K. Agyaho, Head of Price Statistics, Ghana Statistical Service (GSS) a copy made available to the Ghana News Agency in Tema, said the year-on-year inflation for August 2020 – August 2021 stood at 9.7 per cent.

“The month-on-month inflation, from July 2021 to August 2021 was 0.3 per cent, while the year-on-year variation between food of 10.9 per cent and non-food inflation of 8.9 per cent was 2.2 per cent,” the report said.

It said “Month-on-month food inflation this month was less than non-food inflation by 0.1 percentage point.”

The Head of Price Statistics said, inflation for August 2021 indicates that food contributes more than half to overall inflation, when combined with housing more than two-thirds, and further including transport more than four-fifths.

He said inflation for locally produced items continued to dominate imported items which show a marginally higher increase.

Meanwhile, inflation rates for Northern, Upper East and Upper West regions continue to soar.

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