Government Statistician, Professor Samuel Kobina Annim has revealed that inflation for the month of April 2024 declined marginally to 25.0% from the 25.8% percent recorded in March 2024.
Addressing journalists in Accra on Wednesday, May 8, he announced that, the marginal decrease represents 0.8 percentage points.
“The year-on-year rate of inflation for the month of April 2024 stood at 25. 0 per cent. This means that goods and services, thus, prices of goods and services between April 2023 and April 2024 went up by 25. 0 percent”, Annim stated.
He further explained that the consumer price index stood at 213.3 relative to 170.5 recorded for the same period in April 2023.
“In the month of April 2024, the consumer price index stood at 213. 3 relative 170. 5 that was recorded for the same time period in April 2023. Given these two indices, year-on-year inflation to the month of April 2024 stood at 25.0 per cent.”
According to the Ghana Statistical Service, food inflation contributed to the overall drop in the rate of inflation as it recorded a rate of 26.8%, the lowest in 13 months, with non-food inflation of 23.5% in April 2024.
“We saw a contrast between food and non-food while we saw a decrease in non-food inflation from 29.6 percent to 26.8 percent in April 2024 a reverse was the case for non-food inflation as it increased to 23.5 percent from 22.6 percent in March 2024”.