By: Edzorna Francis Mensah
The Year-on-year inflation rate for June 2023 stood at 42.5 percent, meaning that in June, the general price level of goods and services of a fixed basket purchased by households was 42.5 percent higher than in June 2022.
Month-on-month inflation between May 2023 and June 2023 was 3.2 percent.
At a news conference in Accra for the release of the June 2023 Consumer Price Index and Inflation, the Government Statistician, Professor Samuel Kobina Annim noted that the inflation for locally produced items was 35.9% whereas the Inflation for imported items was 44.5% under the same period.
“Food inflation (0.437) was 54.2% (Last month’s Food inflation was 51.8°%. Month-on-month Food inflation was 3.9%).
Non-food Inflation (0.563) was 33.4% (Last month’s Non-Food inflation was 34.6 %. Month-on-month Non-Food inflation was 2.6%).
CPI for June 2023 was 184.4 relative to 129.4 for June 2022.