Inflation rises for 3rd straight month as Ghana Statistical Services pegs July Inflation at 43.1%
Prices of Goods and Service are rising at an increasing rate as the Ghana Statistical Service had pegged the inflation rate for July 2023 at 43.1%, a jump from the 42.5% recorded for June 2023.
This would be the 3rd consecutive monthly rise in inflation figures following a downward trend in the first four month of the year that saw inflation slow from 54.1% in December 2022 to 41.2% in April 2023.
Month-on-Month inflation between June 2023 and July 2023 was 3.6%, a rise in the 3.2% recorded between May 2023 and June 2023.
Disaggregating the July 2023 inflation, government statistician disclosed food inflation rose to 55% from the 54.2% in June while non-food inflation rose to 33.8% from the 33.4% recorded in June.
Additionally, Inflation for locally produced items was 37.5% with imported items having an inflation of 45.7%.
On a regional basis, the North East recorded with the highest inflation of 64.0% with the Greater Accra recording the least of 31.8%. Of the 16 regions, only the Greater Accra, Ahafo, Ashanti, Oti and Upper East Regions recorded inflations lower than the National average of 43.1%.
Source: Ghana/Starrfm.com.gh/103.5FM/Edem Kojo
