The country’s year-on-year inflation rose for the fourth consecutive month to 43.1 per cent in July 2023, the Ghana Statistical Service (GSS) has said.
After falling to 41.2 per cent in April this year, the lowest since January 2023, inflation rate began to pick up from May at 42.2 per cent to 42.5 per cent in June, and settling at 43.1 per cent in July 2023.
A statement issued by the GSS in Accra yesterday on the July 2023 inflation rate said the increase in inflation was influenced by food inflation.
Food inflation in July 2023, the GSS said, increased by 0.427 per cent to 55.6 per cent from 54.2 per cent in June 2023.
It said food and non-alcoholic beverages (55.0 per cent), alcoholic beverages, tobacco and narcotics (48.7 per cent), fish and other sea foods (57.7 per cent), oil and fats (59.5 per cent), cocoa drinks (86.5 per cent), sugar, confectionery and desserts (62.7 per cent) recorded inflation rate above the national average of 43.1 per cent.
The GSS said vegetables, tubers, plantains, cooking bananas and pulses (41.5 per cent) and fruits and nuts (37.9 per cent) recorded inflation rate below the national average of 43.1 per cent.
It said non-food inflation in June 2023 rose by 0.573 per cent to 33.8 per cent from 33.4 per cent in June 2023.
The statement said personal care, social protection and miscellaneous, goods and services (60.5 per cent), furnishing, household equipment and routine household maintenance (56.9 per cent), housing water, electricity, gas and other fuels (47.4 per cent) under non-food recorded inflation rate above the national average of 33.8 per cent.
It explained that transport (28.5 per cent), clothing and footwear (36.2 per cent) health (41.2 per cent), information and communication (22.6 per cent), education services (17.0 per cent), recreation, sports and culture (32.4 per cent) all under non-food inflation recorded inflation rate below the national average of 33.8 per cent.
“Inflation for locally produced items was 37.5 per cent and inflation for imported items was 45.7 per cent,” the statement said.
On regional inflation, GSS said Greater Accra recorded the lowest inflation rate of 31.8 per cent, followed by Ashanti, 35.3 per cent; Ahafo, 38.4 per cent; Oti, 38.6 per cent; Upper West, 40.2 per cent, and Volta, 43.7 per cent.
The GSS said North East Region recorded the highest rate of inflation, Western North, 55.8 per cent; Upper East, 50.2 per cent; Eastern, 48.8 per cent; and Northern, 48.1 per cent.
BY KINGSLEY ASARE
