This is Ghana’s Highest Inflation Recorded Since December 2003

Year-on-year Inflation shot up further by 2.2% to 29.8% in June 2022, most recent data from the Ghana Statistical Service (GSS) has uncovered. This is the highest recorded since December 2003.

The rate of inflation was once again driven by Transport (41.6%); Household Equipment and Maintenance (39.6%); Housing, Water, Gas and Electricity (38.4%); Personal Care and Miscellaneous (31.7%); Recreation, Sports and Culture (31.3%) and Food and Non-Alcoholic Beverages (30.7%). These items recorded inflation rates higher than the national average.

As per the figures, food Inflation flooded to 30.7% in June 2022, from 30.1% recorded in May 2022.

Non-food Inflation also increased by 3.4% to 29.1% in June 2022.

Also, month-on-month Inflation between May 2022 and June 2022 was 3.0%.

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While Inflation for locally produced items was 29.2%, that of imported items was 31.3%.

Credit: Myjoyonline