Inflation for the month of June has declined to 22.8%, from 23.1% recorded in May 2024, representing a 0.3 percentage point decrease between May and June 2024.
Addressing the press on Wednesday July 10, Prof. Samuel Kobina Annim, Government Statistician highlighted that the challenges facing the country’s exchange rate adding that inflation on imported items stood at 17.5 percent.
The year-on-year inflation for June 2024 stood at 22.8 percent, signalling that between June 2023 and June 2024, the prices of goods and services went up by 22.8 percent.
This rate of inflation indicates a slowdown by 0.3 percentage points on a month-on-month basis as the rate for May 2024 stood at 23.1 percent.”
“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 stated.
Food inflation increased to 24.0 percent while non-food inflation decreased to 21.6 percent.
Prof. Anim added that “the Upper East region recorded the highest rate of inflation with 35.20 percent, with the Oti region recording a rate of 12.5 percent.”
