Ghana’s annual inflation rate dropped to 22.8 percent in June, the lowest in over two years, according to the Ghana Statistical Service (GSS).
This slight decline from 23.1 percent in May indicates a gradual easing of inflationary pressures.
However, food inflation rose to 24.0 percent, while non-food inflation fell to 21.6 percent.
Government Statistician, Professor Samuel Kobina Annim, highlighted the impact of exchange rate fluctuations on imported goods, with inflation for these items at 17.5 percent.
“The dominance of inflation on imported items can be aligned with the exchange rate stability,” said Prof. Annim, noting recent stabilization in the cedi.
Disparities remain across regions and product categories.
Four sectors—alcoholic beverages, tobacco & narcotics, restaurants & accommodation services, and housing, water & electricity—recorded inflation rates higher than the national average.
The Upper East Region had the highest inflation rate at 35.2 percent, while the Oti Region had the lowest at 12.5 percent.
“The question on the exchange rate is always important,” Prof. Annim remarked. “That is why we have provided a trend analysis from June 2023 to June 2024.”
While overall inflation shows improvement, these disparities highlight ongoing challenges in managing inflation across sectors and regions.
