August 10, 2022

Oils Still Lead Food Inflation

The Ghana Statistical Service (GSS) has found oils and Fats are a driving force for food inflation in Ghana in the July 2022 Consumer Price Index (CPI).

Although Food inflation was 32.3%, oils and fats recorded an inflation rate twice the national food inflation rate.

Oils and fats recorded 67% inflation.

In March 2022, oils and fat led the food subclasses chart with an inflation of 28.2%. In May 2022, it led with 52% inflation and in June it led by 58% inflation.

Food subclasses such as fish and seafood products; water; cereal products; milk, dairy products and egg; fruit and vegetable juice; live animals and meat also recorded inflation rates above the national food inflation, therefore driving the overall inflation rate.

Regional Food Inflation
Five regions recorded food inflation rates higher than the national food inflation rate of 32.3%, the GSS found.

They include the Western (44.8%), Central (41.8%), Eastern (39.7%), Greater Accra (33.3%) and the Upper West regions (33.8%).

The lowest food inflation for July 2022 was recorded in the Upper East region at a rate of 15.7%.

Bono Ahafo (29.7%), Volta (27.9%), Northern (24.4%), and the Ashanti regions (23.3%) recorded inflation rates below the national food inflation rate.

Source: Fuseini

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