Inflation for August 2023 drops to 40.1%

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The year-on-year inflation for the month of August 2023 has dropped to 40.1 percent from the 43.1 percent recorded in July 2033.

Food inflation witnessed a decrease to 51.9 percent from the 55.0 percent the previous month.

For the first time in the year, inflation for imported products recorded a rate lower than locally produced items with a figure of 36.2 percent and 42.4 percent respectively. 

Government Statistician, Professor Samuel Kobina Annim made the announcement at a press briefing.