Ghana’s inflation decline has continued for the 5th consecutive month slowing down to 20.4% in August 2024 from the 20.9% it recorded in July 2024.

Meanwhile, month-on-month inflation for August 2024 slowed remarkably, with the country experiencing a deflation 0.7%

The 5th consecutive inflation decline according to the statistical service was fueled by a 0.7% fall in the prices of goods and services in the country for the Month of August. It adds that prices of food items in August fell by 2.2%, the highest food deflation since September 2016.

Although on a year-on-year basis food inflation’s delcine had been consistent falling to 19.6%, non-food inflation rose from 20.5% to 21.5%.

Meanwhile, international credit and market research firm fitch solutions is prediting the country will end the year with an inflation rate of 20.8%

Cover Photo Credit: Yepoka Yeebo