Ghana: Food prices push August inflation rate to 9.7%

The continuous rise in the prices of food items continues to dominate overall inflation in Ghana.

Data from the Ghana Statistical Service indicates that the year-on-year inflation rate for August 2021 stood at 9.7.

Food inflation in the month of August stood at 10.9 relative to non-food inflation of 8.7 which indicates a differential of 2.2 for the month of August 2021.

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This will, however, be the first time in several months that food inflation will contribute more than half of the consumer price index on a month on month basis.

The contribution of food commodities to overall inflation in Ghana has risen in the past 3 months.

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Food contributed 41.8% to overall inflation in June, 47% in July and 52% in August.

Data covering the first six months of this year from commodity price analysts Esoko indicates that a 100 kg bag of maize at the Techiman market rose by about 60% from GHS 191.00 to GHS 301.00.

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A 72 kg crate of tomatoes from the same market over the same period rose by almost 130% from GHS 397.00 to GHS 904.00.

A further look at the data from the Ghana Statistical Service shows that year on the year inflation rate for August for cereal products was one of the highest at 15.5% from 12.2 % in July while milk, dairy products and eggs in light of the issues facing the poultry sector declined to 13.1% from 14.2% in July 2021.

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