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Ghana August Consumer Price Inflation at 9.7% Year-on-Year

ACCRA, Sept 8 (Reuters) - Ghana’s consumer price inflation was at 9.7% year-on-year in August compared with 9% in the previous month, the West African nation’s statistics service said on Wednesday.

August marked the fourth month in a row that inflation has risen in Ghana, with food inflation, the largest contributor to the country’s overall inflation rate, rising for a third straight month.

Housing inflation surged past transportation to become the second-largest contributor to Ghana’s inflation rate. Transportation inflation, now the third-largest contributor, also rose last month.

“Food contributes more than half to overall inflation, and combined with housing more than two-thirds, and further including transport, more than four-fifths,” Samuel Kobina Annim, head of the statistics office, told a news conference.

Despite the steady increases, Ghana’s inflation rate still remains within the Bank of Ghana’s targeted band of 8% plus or minus 2 percentage points.

(Reporting by Christian Akorlie; Writing by Cooper Inveen; Editing by Catherine Evans and Alex Richardson)

Source: Reuters


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