The inflation rate in Ghana slightly declined from 25% in April 2024 to 23.1% in May 2024.
Professor Samuel Kobina Annim, Government Statistician of the Ghana Statistical Service, disclosed this information during a press conference in Accra on Wednesday, June 12, 2024.
May 2024 witnessed a 3.2% reduction in month-on-month inflation.
As per data released by the Ghana Statistical Service (GSS), food inflation was the primary factor contributing to the overall decrease in the inflation rate.
Food inflation for May stood at 22.6%, compared to April’s 26.8%, indicating a slowdown from the 2.7% increase recorded in April 2024.
Non-food inflation experienced a 3.6% month-on-month increase.
The Consumer Price Index monitors changes in the price level of a fixed basket of goods and services purchased by households.