Inflation rate for July hits 31.7% - GSS

The Ghana Statistical Service has announced that the inflation rate for July has climbed to an all-time high of 31.7 percent.

This means that between June 2022 and July 2022, prices of goods and services have gone up by 31.7% indicating a 1.9% increase.

Government statistician Prof. Kobina Annim made the announcement when he addressed journalists on August 10,

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“We composed this from two perspectives, the food and non-food inflation and from a domestic and imported perspective. From the food and non-food inflation we recorded food inflation of 32.3% and 31.3% for non-food inflation.”

“From the domestic perspective we recorded 29.2% and imported inflation of 31.3%.”

This has been attributed to the increasing depreciation of the cedi which has led to the increase in the cost of imports.

Imported goods such as cooking oil and gasoline due to the war in Ukraine, dollar strength and extreme weather caused the rise in the inflation rate from 29.8 percent in June.



SSD/MA