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Inflation in Ghana for June 2024 has declined marginally to 22.8 percent, representing a decrease of 0.3 percentage points from May’s 23.1 percent.
According to the Ghana Statistical Service, food inflation increased to 24.0 percent while non-food inflation decreased to 21.6 percent. Government Statistician Prof. Samuel Kobina Annim noted that inflation on imported items stood at 17.5 percent, attributing this to challenges with the exchange rate.
Also read: Ghana Ranked 6th in Africa for Highest Food Inflation – World Bank
He emphasized the importance of exchange rate stability, highlighting a trend analysis from June 2023 to June 2024 that shows the dominance of inflation on imported items can be aligned with exchange rate stability.
The year-on-year inflation of 22.8 percent is the second lowest recorded in the last seven months.
Four divisions recorded higher inflation rates than the overall inflation rate: Alcoholic Beverages, Tobacco and Narcotics at 32.3 percent; Restaurants and Accommodation Services at 30.7 percent; Housing, Water, Electricity at 26 percent; and Food and Non-Alcoholic Beverages at 24 percent.
Regionally, the Upper East Region recorded the highest inflation rate at 35.2 percent, while the Oti Region had the lowest at 12.5 percent.
