Inflation is at an all-time high and its attributed to the continuous increase in food and transport prices across the country. This according to the Ghana Statistical Services has pushed the national year-on-year inflation for April 2022 to 23.6 percent.
The rate rose 4.2 percentage points higher than the 19.4 per cent recorded in March 2022. The Ghana Statistical Service noted that “four divisions – transport (33.5%); household equipment and routine maintenance (28.5%); food and non-alcoholic beverages (25.6%), and housing, water, electricity, gas and other fuels (25.0%) recorded rates above the national average of 23.6% with transport recording the highest” in a statement released Wednesday.
This is the first time in 29 months that inflation for imported items exceeded domestic inflation. Whilst for locally produced items was 23.0%, inflation for imported items was 24.7%.
“The inflation for imported goods is higher than the 17.3% recorded for March 2022 while the inflation for locally produced items is 23.0% higher than the 20.0% recorded in March 2022.” National month-on-month inflation from March 2022 to April 2022 was 5.1%.
The Year-on-year rate for April 2022 rose to 23.6 per cent compared with 19.4 per cent in March, the Ghana Statistical Services said on Wednesday.
The figure means that the rate rose 4.2 per centage points higher than the 19.4 per cent recorded in March 2022.
At a press Briefing in Accra, Professor Kobina Annim, the Government Statistician said the month-on-month inflation between March 2022 and April 2022 was 5.1 per cent.