Ghana: Inflation eases from July's multi-year high
September 14, 2015
In August, consumer prices dropped 0.78% over the previous month, which contrasted the 2.32% rise tallied in July. August’s decrease marked the lowest reading since October 2012 and was driven by lower prices for food, housing and electricity.
Inflation eased from 17.9% in July to 17.3% in August. July’s figure had marked a multi-year high. As a result, inflation continues well above the Central Bank’s target of 8.0%. However, annual average inflation inched up from July’s 16.8% to 16.9% in August, the highest level since March 2010.
Author: Dirina Mançellari, Senior Economist