Ghana’s inflation rises slightly to 8.41% in August

Ghana’s annual inflation rate for August 2011 is 8.41%, Dr. Grace Bediako, Head of the Ghana Statistical Service (GSS) announced during a press conference in Accra September 14, 2011.

Inflation rose by a 0.02 percentage points over that of July 2011 which recorded 8.39%.

The rate rise was on upward pressure from non-food group such as transport, goods and services which recorded 11.38% on the general price level, according to the GSS.

An 8.5% single digit is Ghana’s target by the end of the year but recent utility tariff hikes, wages increment and public spending makes that unlikely.

By Ekow Quandzie