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Wednesday, December 7, 2022

Ghana’s inflation rate soars again; hits 29.8% in June 2022 – Citi Business News

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Ghana’s inflation rate soared again to hit 29.8 percent in the month of June, a 2.2 percentage point increase compared to the 27.6 percent recorded in May.

This comes as many stakeholders continue to mount pressure on the government and the Bank of Ghana to quickly institute measures to check the continuous rise in the inflation rate.

The 2.2 percentage points gap however comes as the lowest increase recorded since February. This signifies a slow-down in the inflation curve compared to previous months.

On a monthly basis, inflation between May 2022 and June 2022 was three percent.

The rise in inflation was once again influenced by transport, housing, water, gas and electricity, and food.

According to the Ghana Statistical Service, the rate of inflation was driven by Transport (41.6%); Household Equipment and Maintenance (39.6%); Housing, Water, Gas and Electricity (38.4%); Personal Care and Miscellaneous (31.7%); Recreation, Sports and Culture (31.3%) and Food and Non-Alcoholic Beverages (30.7%).

These items recorded inflation rates higher than the national average out of the 13 divisions.

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