The Ghana Statistical Service (GSS) has noted that the year-on-year rate of inflation for May 2024 is now at 23.1 percent.
This means that in the month of May 2024, the general price level was 23.1 percent higher than May 2023.
GSS also noted that Ghana’s consumer price index for May 2024 has hit 220.0 relative to 178.7 for May 2023.
The month-on-month inflation between April and May 2024 was also 3.2 percent.
Speaking at a press briefing to release the consumer price index and inflation, Government Statistician, Prof. Samuel Kobina Annim explained further that year-on-year food inflation was 22.6% for May 2024 as compared to that of April which was 26.8 %.
For the year-on-year non-food inflation, he noted that it was at 23.6 %.
Meanwhile, he explained that food inflation was a major factor to the decrease in the inflation rate.
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Ghana| Atinkaonline.com| Porcia Oforiwaa Ofori
