The Ghana Statistical Service (GSS) has announced that the Consumer Price Index which measures inflation dropped to 23.1% in May, 2024.
According to the Government Statistician, Professor Samuel Kobina Annim, the inflation figure for May was 1.9% lower than the figure of 25% recorded in April this year.
“We have seen for the second consecutive time a drop in the year-on-year inflation by 1.9 percentage points to the current year-on-year inflation for May 2024, standing at 23.1%,” Prof Annim said.
He explained that food inflation recorded a rate of 22.6%, the lowest since 13 months, while non-food inflation, however, shot up to 23.6% in May 2024.
Inflation for locally produced items and imported items fell to 24.7% and 19.6% respectively.
GIK/APA
Ghana’s inflation rate drops to 23.1% in May – GSS
