The year-on-year inflation for the month of August has slowed marginally to 20.4% from 20.9% recorded in July.

According to the Ghana Statistical Service, the marginal slowdown in the rate of inflation from August last year compared to August 2024 was influenced by a reduction in food inflation.

Food inflation went down again to 19.1% from 21.5% in July 2024.

Non-food inflation however saw some 0.7 percentage points increase in inflation to 21.5% in August 2024 from 20.5% in July 2024.

The report revealed that inflation on imported items increased to 16.1 percent from 15.6 percent in July 2024.

However, inflation on locally produced items saw some decline to 22.2 percent in August from 23.3 percent in July 2024.

Housing, water, electricity, gas and other fuels recorded 31.8 percent whereas, Restaurants and accommodation services recorded 29.5 percent.

Also, Alcoholic beverages, tobacco and narcotics recorded 25.0 percent meanwhile Education Services and Health recorded 22.0 percent and 20.6 percent respectively.

“These items recorded higher inflation than the overall rate of inflation of 20.4 percent for August 2024”, Government Statistician Prof. Samuel Kobina Annim said.

The Upper East Region recorded the highest inflation rate for the month of August with 27.8 percent.

Meanwhile, the North East Region had the lowest inflation rate of 10.1 percent in August 2024.