The Ghanaian Government Statistician, Dr. Alhassan Iddrisu, has announced that the country’s annual inflation rate for July dropped to 12.1 per cent from 13.7 per cent recorded in June this year.
Dr. Iddrisu told a news conference on Wednesday in Accra that it was the seventh consecutive month that the inflation rate has dropped and representing the lowest level since October 2021.
He explained that the downward inflationary trend over the last seven months provides consistency and assurance of a real sustained shift in prices,
But the Government Statistician stated that the volatility in month-on-month rates should be watched closely.
According to him, food inflation is still the dominant contributor to inflation rate at 15.1 per cent, which dropped from 16.3 per cent in June.
“However, staples like ginger (128.4 per cent inflation), yam (33.3 per cent), and vegetable oil (52.3 per cent) recorded sharp price surges. Non-food inflation dropped to a single-digit 9.5 per cent, with housing and utilities seeing the steepest decline (19.0 per cent from 24.9 per cent in June),” he said
On regional divide, he said that the Upper West Region remained Ghana’s inflation hotspot at 24.8 per cent, driven by soaring food prices (26.9 per cent) and utilities (73.6 per cent), while the Central Region recorded the lowest inflation at 7.7 per cent.
GIK/APA