Inflation hits 27.6% in May

Ghana’s Consumer Price Inflation accelerated to 27.6% year-on-year in May from 23.6% in April hitting a new 18-year high, the Statistical Service said on Wednesday, June 8, 2022.

This means that in the month of May 2022, the general price level was 27.6% higher than in May 2021.

The Ghana Statistical Service figures also indicated that month-on-month inflation between April 2022 and May 2022 was 4.1%.

Disaggregation

The data also indicated that food inflation was up 30.1% from 26.6% last month and month-on-month food inflation was 4.0%.

Non-food inflation was 25.7% up from 21.3% last month and month-on-month non-food inflation was 4.1%

Inflation for locally produced items was 27.3 while that of imported items was 28.2%.

Source: Graphic.com