The year-on-year rate of change in prices of goods and services in the country has declined for the 5th straight month falling from 20.9% in July to 20.4% in August 2024. This according to the Ghana Statistical Service was accompanied by a 0.7% reduction in prices of goods and services in the country for the Month of August.
Addressing the media, Government Statistician, Professor Samuel Kobina Anim further disclosed prices of food items in the month of August fell by an average of 2.2% across the country, the highest deflation of food prices recorded since September 2016.
Amongst food items, fruits and nuts contributed most to the deflation of food prices, falling by 5.7% year-on-year and 29.4% in the month of August. Milk and Diary products and Oil and fats also recorded significant price reductions, falling by 15.3% and 8.1% respectively in the month of August.
Source: Ghana/Starrfm.com.gh/103.5FM/ Edem Kojo
