• About
  • Advertise
  • Privacy Policy
  • Contact
Monday, August 4, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Year-On-Year Inflation Rises To 33.9% In August 2022

September 14, 2022
Stephen M.Cby Stephen M.C
in Economy
0
Year-On-Year Inflation Rises To 33.9% August 2022

Ghana’s national year-on-year inflation continues its upward trend, as it rose by 2.2 percentage points to hit 33.9% in the month of August 2022.

According to data from the Ghana Statistical Service, the Consumer Price Index (CPI) for August 2022 was 176.3 relative to 131.7 in August 2021. The recent inflation rate marks a 14-month consecutive rise since June 2021, driven by a rise in Housing, water electricity, gas and other fuels as well as Transport.

Month-on-month inflation between July 2022 and August 2022 was 1.9%, down from a rate of 3.1% recorded between June and July. The month-on-month inflation for August 2022 is the lowest recorded so far this year.

RelatedPosts

Gold’s Slippery Slope Could Break the Cedi’s Winning Streak – Fitch Raises Alarm

24-Hour Economy Gains Momentum: Deloitte Tips Ghana to Hit 2025 GDP Milestone

Global Recession Looms—Ghana Urged to Build Bond Buffer or Risk Economic Shock

Food Inflation

Food inflation rose to 34.4% in August 2022, up from 32.3% in July 2022.  August’s food inflation was very much above the rolling average over the last 12 months of 21.3%.  Meanwhile, Month-on-month Food inflation also reduced to 1.8% in August relative to the 3.3% recorded in July.

Focusing on food inflation on a year-on-year basis for August 2022, eight subclasses recorded higher rates. This was distantly led by Oils and Fats (74.0%) followed by Fruits and Nuts (49.4%) and Fish and Other Seafood (46.4%). In the case of month-on-month food inflation, eight subclasses record rates higher than the national average (1.8%) in August 2022.

Western Region recorded the highest food inflation (47.0%) and Eastern Region, the highest non-food inflation (42.0%). Eastern Region recorded the overall highest inflation (41.0%) followed closely by Western Region (40.2%) and Greater Accra Region (39.3%).

Non-Food Inflation

Similarly, non-food inflation rose to 33.6% in August, up from 31.3 % recorded in July. Non-Food inflation for the month under review was also higher than the rolling average over the last 12 months of 19.3%. Month-on-month Non-Food inflation also dropped by one percentage point to 2.0% in August 2022 relative to 3.0% recorded between June and July this year.

On year-on-year basis, the difference between Food inflation (34.4%) and Non-food (33.6%) was 0.8 percentage points. On month-on-month basis, food inflation (1.8%) recorded a lower rate than non-food (2.0%), leading to a 0.2 percentage point difference.

On a year-on-year basis, wide disparity was observed across the 13 divisions with Housing, water electricity, gas and other fuels leading by 46.7%, closely followed by Transport (45.7%).  Education Service (7.2%) and Insurance and Financial Services (5.4%) recorded the lowest inflation rate among the divisions.

Further analysis show that six {Transport (45.7%), Household Equipment and Maintenance (44.7%), Housing, Water, Electricity and Gas (46.7%), Personal Care and Miscellaneous Goods (36.0%), Recreation, Sports and Culture (36.4%) and Food and Non-Alcoholic Beverages (34.4%)} out of the 13 divisions recorded inflation rates higher than the national average (33.9%).

Changes in year-on-year inflation between July (29.8%) and August 2022 (31.7%) have slowed down for three divisions namely Insurance and Financial Service, Information and Communication, and Alcoholic Beverages, Tobacco and Narcotics.

On a month-on-month basis, five divisions {Housing, Water, Electricity and Gas (3.6%), Household Equipment and Maintenance (2.7%), Personal Care and Miscellaneous Goods (2.5%), Recreation, Sport and Culture (2.2%), Health (2.2%)} recorded inflation rates higher than the national average (1.9%).

Local and imported inflation

While the contribution of Housing, Water, Electricity and Gas (14.7%) increased by 0.3 percentage points between July and August 2022, food inflation (45.4%) remained the same and Transport also reduced by 0.6 percentage points, 14.9% to 14.3%.

The data further revealed that inflation for locally produced items rose to 33.4% in August 2022, up from 30.9% in July.  Likewise, inflation for imported items inched up to 35.2% in August 2022 compared to 33.9% recorded in July.

This means that prices of both local and imported products continue to rise over the past months. In June this year, inflation for locally produced items was 29.2% while that of imported items was 31.3%.

The percentage point difference between inflation for imported items (35.2%) and locally domestic items (33.4%) in August 2022 was 1.8%, lower than 3% recorded in July.

READ ALSO: Galamsey In The North Might Be A Great Resource To Terrorist Groups- Security Analyst

Tags: Consumer Price IndexFoodGSSinflationTransport
Please login to join discussion
Previous Post

Galamsey In The North Might Be A Great Resource To Terrorist Groups- Security Analyst

Next Post

Transport Fares Goes Up By 30%, Effective September 21

[mc4wp_form id="1264"]

Related Posts

Davido Reveals Unexpected Passion Outside Music
Entertainment

Music Passion Drives Davido Beyond Fame

August 4, 2025
Gold’s Slippery Slope Could Break the Cedi’s Winning Streak – Fitch Raises Alarm
Economy

Gold’s Slippery Slope Could Break the Cedi’s Winning Streak – Fitch Raises Alarm

August 4, 2025
Hon. Kennedy Osei Nyarko, Cocoa, Farmers
General News

Mahama Government Faces Criticism Over Cocoa Price Hike

August 4, 2025
Minister for Youth Development and Empowerment, Hon. George Opare Addo, Esq
General News

National Youth Festival Kicks Off to Drive Change and Celebrate Young Ghanaians

August 4, 2025
Trump Seeking Real End To Israel-Iran Conflict
Asia

Ex-Israeli Security Officials Urge Trump To Help End War In Gaza

August 4, 2025
youth employment through agriculture
General News

Gov’t Launches Youth Employment Through Agriculture

August 4, 2025
Davido Reveals Unexpected Passion Outside Music
Entertainment

Music Passion Drives Davido Beyond Fame

by Esther Korantemaa OffeiAugust 4, 2025
Gold’s Slippery Slope Could Break the Cedi’s Winning Streak – Fitch Raises Alarm
Economy

Gold’s Slippery Slope Could Break the Cedi’s Winning Streak – Fitch Raises Alarm

by Stephen M.CAugust 4, 2025
Hon. Kennedy Osei Nyarko, Cocoa, Farmers
General News

Mahama Government Faces Criticism Over Cocoa Price Hike

by Silas Kafui AssemAugust 4, 2025
Minister for Youth Development and Empowerment, Hon. George Opare Addo, Esq
General News

National Youth Festival Kicks Off to Drive Change and Celebrate Young Ghanaians

by Evans Junior OwuAugust 4, 2025
Trump Seeking Real End To Israel-Iran Conflict
Asia

Ex-Israeli Security Officials Urge Trump To Help End War In Gaza

by Comfort AmpomaaAugust 4, 2025
youth employment through agriculture
General News

Gov’t Launches Youth Employment Through Agriculture

by Lilian AhedorAugust 4, 2025
Davido Reveals Unexpected Passion Outside Music
Gold’s Slippery Slope Could Break the Cedi’s Winning Streak – Fitch Raises Alarm
Hon. Kennedy Osei Nyarko, Cocoa, Farmers
Minister for Youth Development and Empowerment, Hon. George Opare Addo, Esq
Trump Seeking Real End To Israel-Iran Conflict
youth employment through agriculture
[/vc_row_inner]

Recent News

  • Music Passion Drives Davido Beyond Fame
  • Gold’s Slippery Slope Could Break the Cedi’s Winning Streak – Fitch Raises Alarm
  • Mahama Government Faces Criticism Over Cocoa Price Hike
  • National Youth Festival Kicks Off to Drive Change and Celebrate Young Ghanaians
  • Ex-Israeli Security Officials Urge Trump To Help End War In Gaza
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.