Inflation down to 11.2%

A dip in Ghana’s inflation for the month of August pegged at 11.2 per cent, declined from 11.4 percent recorded for the period of July, this year.

According to data released by the Ghana Statistical Service, the new figure represents a fall by twenty basis points from July’s level.

Prior to the fall in the rate for August, inflation had for three continuous months hiked since it hit 9.5 per cent in April, a further reduction from the rate in March when the nation first attained the single digit of 9.9 percent this year.

For May, the headline inflation was quoted at 10.2 per cent which rose to 10.5 per cent in June and then up again to 11.4 for July.