Between January and July, the value of the Ghanaian cedi fell by almost 30% as the government struggled to raise money on the international capital market.
The data show that while non-food inflation was 31.3%, food inflation increased once more to 32.3%.
The impact of the main factors on the rise in the overall inflation rate for July 2022 was highlighted by Prof. Annim.
Transport (44.6%), Housing, Water, Electricity, Gas, and Other Fuels (43.0%), Furnishings, Household Equipment, and Routine Household Maintenance (42.0%), Recreation, Sport, and Culture (33.8%), Personal Care, Social Protection, and Other Goods and Services (33.7%), and Food and Non-Alcoholic Beverages (32.3%) were the main drivers of inflation.
Over the national average, inflation rates were observed in each of the six divisions.
“From the domestic perspective, we recorded 29.2% and imported inflation of 31.3%.”
He added that the Eastern Region had the greatest inflation rate, which was 38.1%, while the Upper East Region had the lowest inflation rate, which was 19.8%.