Ghana inflation rises to 42.2% year on year in May

Prof. Samuel Kobina Annim on Wednesday June 14 has announced that Ghana’s consumer inflation accelerated slightly to 42.2% year on year in May, up from 41.2% in April

This means that, in May 2023 the General price level was 42.2% higher than May 2022.

Government statistician Prof Samuel Kobina Annim presenting the consumer price index and rate of inflation for May at Kumasi Technical University said Month on Month inflation between April 2023 and May 2023 was 4.8%

He mentioned that food inflation in May was 51.8% which last month April stood at 48.7% resulting month on month food inflation to 6.2%. Whilst Non-Food Inflation was 34.6% and last month was 35.4% making Month on Month Non Food inflation 3.5%.

Prof Samuel Kobina Annim indicated that inflation for locally produced items in May was 36.2% whilst inflation for imported items was 43.8%.

He said Western North region recorded the highest inflation at 62.5 % whilst the Ashanti region recorded the lowest inflation at rate of 31.0%

He further appealed to Ministry of Food and Agriculture to help the country with food management system to reduce the inflation rate.