June 2024 inflation eases to 22.8%

Source The Ghana Report

Inflation for the month of June has recorded a slight dip to 22.8%.

This represents a decline of 0.3 percentage points from May, which was 23.1 per cent.

According to the Ghana Statistical Service(GSS), food inflation increased to 24.0%, while non-food inflation decreased to 21.6%.

The year-on-year inflation of 22.8 per cent is the second lowest recorded in the last 7 months.

Government Statistician, Prof. Samuel Kobina Annim, addressing the press, indicated that the inflation on imported items stood at 17.5%.

This, he attributed to the challenges with the exchange rate.

“The question on the exchange rate is always an important one that is why we have provided a trend analysis from June 2023 to June 2024. The dominance of the inflation on imported items can be aligned to the exchange rate stability “, he said.

Four divisions recorded an inflation rate higher than overall inflation of 22.8 per cent.

Alcoholic Beverages, Tabasco and narcotics recorded at 32.3 per cent; restaurants and accommodation services recorded at 30.7 per cent; housing, water, electricity also had 26 per cent, while and food and non-alcoholic beverages recorded 24 per cent higher inflation than the overall rate of inflation of 22.8 per cent for June 2024.

Upper East Region recorded the highest inflation rate of 35.2 per cent, while the Oti region recorded a 12.5 per cent rate of inflation from the 16 regions.

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