Ghana’s inflation rate jumps from 29% to 31% in less than a month.

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The inflation rate for July and the most current has hit an all-time high of 31.7 according to the Ghana statistical service.

The reason for the increase in the inflation rate from 29.8 to 31.7 percent is as a result of the continues depreciation of the Cedi against the dollar. This has led to an increase in the cost of importing goods.

Goods like cooking oil and gasoline has seen significant increase in price as a result of the ongoing war.

In order news, the cedi has been reported to be fairing very bad against the dollar. A dollar now sells at GH¢9.12 as of August 9th.

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