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Inflation shot up to 33.9% in August 2022, the highest in 21 years, data from the Ghana Statistical Service (GSS) has revealed.
This will continually increase the cost of borrowing by raising interest rates further.
Once again, the drivers of the rate of inflation were food and transportation.
On a monthly basis, the rate of inflation between July 2022 and August 2022 also went up by 1.9%.
According to the figures by the GSS, food inflation rose again to 32.3%, while non-food inflation stood at 31.3%.
Meanwhile, the Eastern region recorded the highest inflation rate of 41%, while the Upper East region recorded the lowest rate of 22.8%.
More soon………………………
Source: myJoy
