May 11, 2022

GSS: Inflation Rate Hopes To 23.6%

Ghana’s inflation rate for April 2022 has increased from 19.4% in March 2022, to 23.6%, the Ghana Statistical Service has indicated.

April 2022’s inflation rate is 4.2 percentage points higher than that of March 2022.

Meanwhile, the month-on-month inflation between March 2022 and April 2022 was 5.1%.

“Transport, Household Equipment and Routine Maintenance, Food and Non-Alcoholic Beverages, and Housing, Water, Electricity, Gas and Other Fuels recorded inflation rates above the national average of 23.6% with Transport (33.5%) recording the highest inflation”.

Regionally, the GSS said the overall year-on-year inflation ranged from 18.4% in the Upper East Region to 26.7% in the Central Region. The Central Region again recorded the highest month-on-month inflation (8.8%). All regions recorded positive month-on-month inflation rate in April 2022 (above 2.0%).

The GSS relayed that this month’s food inflation (26.6%) is higher than both last month’s (22.4%) and the average of the previous 12 months (13.5%).

“Food inflation contribution to total inflation, however, decreased from 51.4% in March 2022 to 50.0% in April 2022. Overall month-on-month food inflation was 5.8%, which is higher than both the twelve-month national month-on-month rolling average of food inflation (2.0%) and the rate recorded for April 2021 (2.3%). All the 15 food subclasses recorded positive month-on-month inflation with Fruit and Vegetable Juices recording the highest (15.3%).

“Non-food year-on-year inflation on average went up again in April 2022 compared to March 2022 (from 17.0% to 21.3%). Only one out of the 12 Non-food Divisions had the 12 month rolling average to be higher than the year-on-year inflation for April 2022 for the divisions. Transport is the Division that recorded the highest inflation in April 2022 (33.5%).

April’s inflation for imported goods was 24.7% which is higher than the 17.3% recorded for March 2022 while the inflation for locally produced items was 23.0% (up from the 20.0% recorded in March 2022). This is the first time in 29 months that inflation for imported items exceeded domestic inflation.

Source: opemsuo.com/Hajara Fuseini

Prev Post

ISIS Fanatics Execute 20 Christians In Nigeria

Next Post

New Juaben South Education Directorate Seeks Closure Of Schools For Final Funeral Rites Of Late Paramount Chief, Queen-mother

post-bars

Leave a Comment