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

This represents a decline of 0.3 percentage points from that of the month of May which was at 23.1 percent.

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

Government Statistician, Prof. Samuel Kobina Annim addressing the press indicated that the inflation on imported items stood at 17.5 percent. This, he attributed to the challenges with the exchange rate.

“The question on the exchange rate is always an important one that is why we have provided a trend analysis from June 2023 to June 2024. The dominance of the inflation on imported items can be aligned to the exchange rate stability “, he said.

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 tithe overall inflation of 22.8 percent.

Alcoholic Beverages, Tabasco and narcotics recorded 32.3 percent, Restaurants and accommodation services recorded 30.7 percent, Housing, water, electricity also had 26 percent while and food and non-alcoholic beverages recorded 24 percent higher inflation than the overall rate of inflation of 22.8 percent for June 2024.

On the rate of inflation from the 16 regions of Ghana, Upper East Region recorded the highest rate of inflation of 35.2 percent  while Oti region recorded 12.5 percent.

Source: myjoyonline.com