Home News Ghana’s inflation declines marginally to 22.8% in June 2024

Ghana’s inflation declines marginally to 22.8% in June 2024

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By Racheal Asamoah

Ghana’s Inflation for the month of June has declined marginally to 22.8 percent.

The figure represents a 0.3 percentage decrease from the 23.1 percent rate of inflation recorded in May 2024.

The month-on-month rate for June also witnessed a decrease, recording 2.9 percent.

According to the Ghana Statistical Service, food inflation increased to hit 24.0% while non-food inflation decreased to 21.6 percent.

The Government Statistician, Professor Samuel Kobina Anim, gave a breakdown of the figures in an address to the media in Accra on Wednesday, July 10, 2024.

“The year-on-year inflation for June 2024 stood at 22.8 percent, signaling that between June 2023 and June 2024, the prices of goods and services went up by 22.8 percent. This rate of inflation indicates a slowdown by 0.3 percentage points on a month-on-month basis as the rate for May 2024 stood at 23.1 percent.”

The Year-on-year inflation of 22.8 percent is the second lowest recorded in the last 7 months.

Four divisions recorded inflation rate higher than the overall inflation of 22.8 percent.

On a regional basis, the Upper East Region recorded the highest rate of inflation of 35.2 percent while Oti region recorded 12.5 percent.

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