Ghana's inflation hits 29.8% for month of June 2022

Ghana’s inflation has soared again to hit 29.8 percent for the month of June 2022.

This represents a three percentage points increase in the inflation rate compared to the 27.6 percent recorded in May 2022.

This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service (GSS) on Wednesday, July 13, 2022.

Food inflation rose again to record 30.7% compared to May which was 30.1%

Non-food inflation also rose to 29.2%

On a year-on-year basis, the difference between food inflation (30.7%) and Non-food (29.1%) was 1.6 percentage points.

On a month-on-month basis, non-food inflation records a higher rate of 3.6% relative to food (2.3%), leading to a 1.3 percentage point difference.

The percentage point increase in Non-food inflation (3.4) between May and June 2022 was higher than food inflation (0.6).

The percentage point difference between inflation for imported items (31.3%) and locally domestic items (29.2%) was 2.1.