Ghana’s inflation has soared again to hit 27.6 percent in the month of May 2022.
This represents a four
percentage points increase in the inflation rate compared to the 23.6 percent
recorded in April 2022.
On a monthly basis, inflation
however dropped by one percent to record 4.1 percent in May 2022.
This was captured in the
Consumer Price Index (CPI) data released by the Ghana Statistical Service (GSS)
on Wednesday, June 8, 2022.
According to the data, food inflation rose again to record
30.1 percent compared to 26.6 percent recorded in April.
Non-food inflation stood at
25.7 percent in May, compared to 21.3 percent recorded in the previous month.
GSS also noted that this is
the second time in 29 months that inflation for imported items exceeded
domestic inflation.
Whilst inflation for locally
produced items was 27.3 percent, inflation for imported items stood at 28.2
percent in the month under review.
Source:citinewsroom