By Racheal Asamoah
Inflation for the month of April 2024 decreased 25 percent from 25.8% recorded in March 2024, indicating a 0.8 percentage point fall.
According to the Ghana Statistical Service, food inflation contributed to the overall drop in the rate of inflation as it recorded a rate of 26.8%, the lowest since 13 months, with non-food inflation of 23.5%.
Government Statistician Professor Samuel Kobina Annim disclosed this on Wednesday, May 8.
“In the amount of April 2024, rates of inflation stood at 25 .0%, indicating that between April 2023 and April 2024, general prices of goods and services went up by 25 .0%. This 25 .0% indicates a slowdown of 0 .8% each point between the rates that was reported in March 2024 or 25 .8%, relative to 25 .0% for the amount of April 2024,” he stated.
Professor Anim also mentioned that “we saw a contrasting trend between food and non-food inflation, while we saw a decrease in non-food inflation from 29.6% to 26.8% for the amount of April 2024. The reverse was the case for non-food inflation as it increased from 22 .6% to 23 .5%. The rate of inflation of 26.8% that has been recorded for food inflation is the lowest in the last 13 months.”
A key contributing factor to this decline was the slowdown in food inflation, which decreased from 29.6 percent in March to 26.8 percent in April.
On a regional basis, the Upper East region again recorded the highest inflation rate of 42.5% with Oti region again recording the lowest rate of inflation of 11.3%.
