Inflation rate drops to 41% in April 2023

The inflation rate for April 2023 dropped to 41.2% from 45% in March 2023, the Ghana Statistical Service (GSS) has said. 

Inflation Rate

Food inflation went down to 48.7% in April 2023, from 50.8% in March 2023, whilst non-food-inflation declined to 35.4% in April 2023, from 40.6% in March 2023.

Inflation for locally produced items stood at 38.2%, whereas inflation for imported items was 43.1%.

Five groups recorded inflation higher than the national average. They were Housing, Water, Electricity, Gas and Other Fuels (59.0%); Furnishing, Household Equipment and Routine Household Maintenance ( 56.3%); Food and Non-Alcoholic Beverages ((48.7%); Personal Care, Social Protections and Miscellaneous Goods and Services (48.5%) and Transport (42.5%).

For food inflation, Tea and Related Products (82.3%); Cereals and Cereal Products (62.9%); Milk and Diary Products (61.8%); Fish and Other Sea Foods (58.3%); Sugar, Confectionary and Desserts (56.7%); Fruit and Vegetable Juices (55.2%); Oil and Fats (53.2%) and Water (49.6%) recorded year-on-year inflation higher than the overall food inflation.

Source: Laud Nartey

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