Ghana inflation up to 43.1 percent in July – Ghana Tracks Latest Ghana Tracks ,Music Download MP3 Here

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Vendors sell products at a market in Accra, Ghana, on July 14, 2022. Data released by the Ghana Statistical Service (GSS) Wednesday indicated that Ghana's inflation rate rose to 29.8 percent in June, compared with 27.6 percent a month earlier. (Photo by Seth/Xinhua) — Vendors sell products at a market in Accra, Ghana, on July 14, 2022. Data released by the Ghana Statistical Service (GSS) Wednesday indicated that Ghana’s inflation rate rose to 29.8 percent in June, compared with 27.6 percent a month earlier. (Photo by Seth/Xinhua)

Ghana’s inflation rate increased 0.6 percentage points to 43.1 percent in July, the Ghana Statistical Service (GSS) said Wednesday.

Samuel Annim, the government statistician at the GSS, said at a press briefing that inflation for both food and non-food increased in July, resulting in a higher inflation rate.

“Ghana’s food inflation was 55.0 percent in July, compared with 54.2 percent a month earlier, while non-food inflation increased to 33.8 percent from 33.4 percent in June,” Annim stated.

Meanwhile, inflation for locally produced and imported items stood at 37.5 percent and 45.7 percent, respectively, he added.

Ghana’s inflation rate declined four consecutive times from January to April before resuming an upward thrust from May. The central bank raised its benchmark lending rate to 30 percent at its latest meeting in July, hoping to tame the surge in inflation.

Ghana has been suffering high inflation since 2021, leading to consistent depreciation in currency and high living pressure on residents.

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