Ghana's inflation rate has seen a further decline from 22.8 percent recorded in June of this year to 20.9 percent in July.

This represents a fourth consecutive time that the rate has dropped this year.

Recent figures released by the Ghana Statistical Service show a monthly change of 2.1 percent between June and July.

One of the major drivers of inflation, food and non-alcoholic beverages, recorded a year-on-year inflation rate of 21.5 percent in July 2024.

Additionally, the non-food group recorded a year-on-year inflation rate of 20.5 percent in July 2024.

At the regional level, seven regions recorded an inflation rate above the national average of 20.9 percent.

The year-on-year inflation rate ranged from 10.6 percent in the North East Region to 26.9 percent in the Upper East Region.

The Consumer Price Index (CPI) measures the change over time in the general price level of goods and services that households acquire for consumption. It is referenced to the price level in 2021, the base year, which has an index of 100.

MA/NOQ

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