Ghana inflation rate for June accelerates to 29.8%

The Year-on-Year inflation rate for June 2022 accelerated to 29.8 per cent, up from 27.6 per cent in May, the Ghana Statistical Service said on Wednesday.

The figure means that the Month-on-month inflation between May 2022 and June  2022 stood at 3.0 cent.

Food inflation for the month of June 2022 was 30.7 per cent compared to 30.1 per cent in May 2022.

Non-food inflation for June 2022 was 29.1 per cent, while May 2022 recorded a rate of 25.7 per cent.

Inflation for locally produced items was 29.2 per cent while inflation for imported items was 31.3 per cent.

At the regional level, the Eastern region recorded the highest inflation of 35.8 per cent while the Upper East Region registered the lowest rate of 21.0 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