According to the data, in August, there was a decline in inflation to 40.1% from 43.1% in July and 42.5% in June. The country registered an inflation drop for both food and non-food prices. In the former category, the inflation decreased from 51.9% in August to 49.4% in September, while the latter shows a decline from 30.9% to 29.3% in the same period.
The statistical service revealed that the prices of the tea and related products rose the most, by 117.1%, then come cocoa drinks with the inflation growth by 80% and the fruit and vegetables juices with 62%.
Speaking about the inflation rates by country's regions, the service outlined that regarding food, Ghana's North East region saw the highest year-on-year inflation of 73.9% in September, whereas the state's Upper East region witnessed the lowest rate of 35%. As for the figures in the non-food category, the Upper East recorded the highest inflation in September (44.8%), while the Ghanian Ashanti region saw the lowest inflation rate (22%), the statistics demonstrate.
In addition, the service revealed that for locally produced items the inflation was 37.3% in September and that for imported items was 39.9%.
In late July, the World Bank noted that Ghana is due to regain economic growth by 2025. After slowing down due to the COVID-19 impact, Ghana's economy growth rate leaped from 0.5% to 5.3% in 2021.