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Inflation for July 2024 has decreased to 20.9%, down from 22.8% in June. This reduction includes a drop in food inflation to 21.5% from 24.0% and a decrease in non-food inflation to 20.5%.
Inflation on imported items fell to 15.6% from 17.5%, thanks to the stability of the cedi, while inflation for locally produced items remained high at 23.3%.
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Notably, five divisions recorded inflation rates higher than the national average: Housing, Water, Electricity, Gas, and Other Fuel Products at 28.6%; Restaurants and Accommodation Services at 28.3%; Alcoholic Beverages, Tobacco, and Narcotics at 26.8%; Food and Non-Alcoholic Beverages at 21.5%; and Health at 21.2%.
Among food sub-classes, inflation was highest for Vegetables, Tubers, Plantain, Cooking Banana, and Pulses at 41.5%, followed by Fruits and Nuts at 35.1% and Fruit and Vegetable Juices at 26.7%.
Regionally, the Upper East recorded the highest inflation rate at 26.9%, while the North East had the lowest at 10.6%. Greater Accra and Ashanti regions had inflation rates of 22.2% and 18.7%, respectively.
