Ghana’s inflation rate dropped to 22.8 per cent in June 2024, down from 23.1 per cent recorded in May this year, the Ghana Statistical Service (GSS) has said.
The Government Statistician, Professor Samuel Kobina Annim, told a news conference in Accra on Wednesday that the June inflation figure was the lowest in over two years.
He said that despite the overall drop in the inflation figure, food inflation climbed to 24.0 per cent, while non-food inflation dropped to 21.6 per cent.
Prof. Annim explained the impact of exchange rate fluctuations on imported goods, leading to 17.5 per cent inflation rate.
Speaking further on the impact of exchange rate on the consumer price index, he said: “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.“
According to him, while the overall picture shows improvement, disparities persist across regions and product categories. Four sectors – alcoholic beverages, tobacco and narcotics, restaurants and accommodation services, and housing, water and electricity – recorded inflation rates higher than the national average.
On the regional level, Prof Annim said that the Upper East Region continued to experience the highest inflation rate of 35.2 per cent, while the Oti Region recorded the lowest figure of 12.5 per cent.
GIK/APA
Ghana’s inflation rate drops slightly to 22.8% in June
