Inflation jumps to 24% in 18 months

Inflation jumps to 24% in 18 months
Professor Samuel Kobina Annim.

By Edzorna Francis Mensah

The Consumer Price Index (CPI) and Inflation for April 2022 has jumped to 23.6% from 19.4% recorded in March 2022.

This means that, in the month of April 2022, the general price level of a fixed basket of goods and services purchased by households was 23.6% higher than in April 2021and month-on-month inflation between March 2022 and April 2022 was 5.1%.

The 23.6% happened to be the highest figure recorded in the past 18 months and the record shows that in January 2004 inflation stood at 28.94%.

One of the key factors that pushed the figure to the level as submitted by the Government Statistician, Professor Samuel Kobina Annim at a news conference held on 11th May, 2022, was inflation for imported items which stood at 24.7% compared to
Inflation for locally produced items of 23.0% for the period under review.

According to Professor Annim, “food inflation was 26.6%, (last month this was 22.4%, average over last 12 month was 13.5% and Month-on-month Food inflation was 5.8%).

Non-food Inflation was 21.3% (last month this was 17.0 %, average over last 12 months was 12.2% and Month-on-month Non-Food inflation was 4.6%).

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