Inflation slows to 22.8% in June 2024

The year-on-year inflation rate slowed to 22. 8 per cent in June compared to 23.1 per cent the previous month, the Ghana Statistical Service said on Wednesday. 

This means that in the month of June 2024, the general price level was 22.8 percent higher than June 2023 April 2023. 

The Month-on-month inflation between May and June 2024 was 2.9 percent. 

Professor Samuel Annim, the Government Statistician at a press briefing, said the Consumer Price Index for June 2024 was 226.4 relative to 184.4 for June 2023. 

He said food inflation was 24.0 per cent compared to last month’s food inflation of 22.6 per cent with the month-on-month food inflation being 5.1 per cent. 

Meanwhile, non-food inflation also contributed 21.6 per cent, compared to last month’s non-food inflation of 23.6 per cent with the Month-on-month being 0.9 per cent. 

Inflation for imported items was 17.5 per cent compared to that for locally produced items, which was 25.0 per cent. 

On regional Inflation basis, the Upper East maintained the records with the highest inflation rate of 35.2 per cent, while the Oti Region maintained its records of 12.5 per cent as the lowest regional inflation. 

Source: GNA