The Year-on-Year inflation rate for July 2022 increased to 31.7
per cent, up from 29.8 per cent in June, the Ghana Statistical Service
said on Wednesday.
The Month-on-month inflation between June 2022 and July 2022 stood at 3.1 per
cent.
Food inflation for July 2022 was 32.3 per cent compared to 30.7 per cent the
previous month.
Non-food inflation stood at 31.3 per cent from 29.1 per cent in
June.
Inflation for locally produced items was 30.9 per cent while inflation for
imported items was 33.9 per cent.
Transport with 44.6 per cent inflation rate, Housing, water, electricity, gas
and other fuels at 43 per cent as well as furnishings, household equipment and
routine household maintenance at 42 per cent were the greatest contributors to
the July inflation.
At the regional level, the Eastern region recorded the highest inflation of
38.1 per cent while the Upper East Region registered the lowest rate of 19.8
per cent.
The Consumer Price Index measures changes in the price of a fixed basket of
goods and services purchased by households.
Prices are collected for approximately 39,500 products every month with price
collection done in 44 markets.
Products are ordered in a hierarchy of 13 divisions, 44 groups, 98 classes, 156
subclasses and 307 items.
Source: GNA