Ghana’s Inflation rate for August 2023 drops to 40.1%

This is the first time in five months that the rate of inflation has declined, according to the Ghana Statistical Service (GSS) The year-on-year inflation rate for August 2023 was 40.1%, the Ghana Statistical Service (GSS) has announced. This means that in the month of August 2023 the general price level was 40.1% higher than August 2022. This is the first time in five months that the rate of inflation has declined. The year-on-year inflation rate for July 2023 was 43.1%. The figure represents a three percentage points drop. The month-on-month inflation between July 2023 and August 2023 was -0.2%. Food inflation for August…