Accra, Ghana – September 11, 2024 – Ghana’s Consumer Price Index (CPI) saw a modest decline in August 2024, easing from 20.90% in July 2024 to 20.40%, based on data released today. This marks a slight reduction in the year-over-year inflation rate, bringing much-needed respite to the economy.
The latest CPI indicates that while inflation pressures remain high, the rate of increase has begun to decelerate. The comparison period shows that the previous month's rate, which stood at 20.90%, reflected a higher year-over-year change than the current period.
Economists are cautiously optimistic that this trend may continue, suggesting that stabilization efforts could be yielding results. However, the overall high inflation rate continues to pose challenges for consumers and policymakers alike. The National Bureau of Statistics will be closely monitoring future developments to understand the long-term implications on the economy.
