Ghana inflation rate slows to 41.2% in April

The year-on-year consumer inflation slowed, for the fourth consecutive month in April, to 41.2 per cent from 45.0 per cent in March, the Ghana Statistical Service said on Wednesday.  

The 3.8 percentage point drop in the rate was due to a fall in non-food items. 

The month-on-month inflation rate between March 2023 and April 2023 was 2.4 per cent. 

Professor Samuel Kobina Annim, the Government Statistician, said it meant that in the month of April 2023, the general price level was 41.2 per cent higher than in April 2022. 

The food inflation decreased to 48.7 per cent from the previous month’s food inflation of 50.8 per cent with the month-on-month food inflation at 4.3 per cent.  

The non-food inflation for April 2023 decreased to 35.4 per cent from 40.6 per cent in March 2023.  

The month-on-month non-food inflation was 0.7 per cent in April. 

The Government Statistician said inflation for locally produced items stood at 38.2 per cent in April 2023 while inflation for imported items was 43.1 per cent. 

The Western North region recorded the highest inflation rate of 64.0 per cent while the Volta Region has the lowest regional inflation rate of 28.0 per cent. 

Source: GNA