The annual inflation rate in Ghana accelerated for the third straight month to 9.7% in August of 2021, from 9% in July.

It is the highest inflation rate since March but still within the Bank of Ghana’s target band of 8% plus or minus 2 percentage points.

Main upward pressure came from prices of food (10.9% vs 9.5% in July), housing & utilities (15.2% vs 14.1%) and transportation (12.8% vs 12.1%).

Food inflation was 10.9% while last month was 9.5%. Average over last 12 months was 10.4%. Month-on-month Food inflation was 0.2%. Non-food Inflation was 8.7% while last month was 8.6 %.

Average over last 12 months was 8.8%. Month-on-month Non-Food inflation was 0.3%. Inflation for locally produced items was 10.3%.Inflation for imported items was 8.1%

This rate of inflation for August 2021 is the percentage change in the Consumer Price Index (CPI) over the 12-month period, from August 2020 to August 2021.

The monthly change rate for August 2021 is 0.3 percent.

The Combined Consumer Price Index (CPI) measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption, with reference to the price level in 2018, the base year, which has an index of 100.

Credit: classfmonline/Trading economics