July 2024 saw a sharp decline in inflation to 20.9%.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Inflation for the month of July 2024 tumbled to 20.9%.

This represents a decline of 1.9 percentage points from that of June, which was at 22.8%.

According to the Ghana Statistical Service, food inflation went down to 21.5% from 24.0% in June 2024, while non-food inflation also fell to 20.5%.

Government Statistician, Prof Samuel Kobina Annim, addressing the press, indicated that inflation on imported items also dropped to 15.6% from 17.5%.

This, he attributed to the stability of the cedi in July 2024. However, inflation on locally produced items stood at 23.3% for July 2024.

Source: newsthemegh.com