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According to government statistician Samuel Kobina Annim, Ghana’s inflation rate for April decreased somewhat to 25.0%.
This is a little reduction of 0.8 percentage points from the rate of 25.8% recorded in the previous month.
This drop, according to Professor Annim, was caused by a slowing in food inflation, which fell from 29.6% in March to 26.8% in April.
On the other hand, non-food inflation increased from 22.6% to 23.5% in the preceding month.
In an interview on Wednesday, May 8, 2024, Professor Annim stated that the consumer price index in April 2024 was 213.3, as opposed to 170.5 for the same time in April 2023, meaning that there was a 25.0% annual inflation rate.
After a notable spike in March, when inflation increased by 2.6 percentage points to 25.8%, there has been a minor decline in inflation in April.
“In the month of April 2024, the consumer price index stood at 213. 3 relative 170. 5 that was recorded for the same time period in April 2023. Given these two indices, year-on-year inflation to the month of April 2024 stood at 25.0 per cent,” Prof Annim said.
“The year-on-year rate of inflation for the month of April 2024 stood at 25. 0 per cent. This literally means that goods and services, thus, prices of goods and services between April 2023 and April 2024 went up by 25. 0 per cent.”
Source: Ghanatodayonline.com
