BusinessEconomy

Inflation rate for June 2024 drops to 22.8%

Government Statistician, Prof Samuel Kobina Annim, highlighted the impact of exchange rate fluctuations on imported goods. Inflation for imported items stood at 17.5 %, potentially linked to the recent period of cedi instability

Ghana’s annual inflation rate slowed to 22.8% in June, the lowest level in over two years, according to the Ghana Statistical Service (GSS).

This represents a marginal decline from the 23.1 percent recorded in May.

Despite the overall drop, food inflation climbed to 24.0 %, while non-food inflation decreased to 21.6 %.

Government Statistician, Prof Samuel Kobina Annim, highlighted the impact of exchange rate fluctuations on imported goods. Inflation for imported items stood at 17.5 %, potentially linked to the recent period of cedi instability.

However,  Annim pointed to a trend analysis showing some recent stabilization in the exchange rate, which could contribute to further inflation reduction.

“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 said.

While the overall picture shows improvement, disparities persist across regions and product categories. Four sectors – alcoholic beverages, tobacco & narcotics, restaurants & accommodation services, and housing, water & electricity – recorded inflation rates higher than the national average.

Additionally, the Upper East Region continues to experience the highest inflation rate at 35.2 percent, while the Oti Region boasts the lowest at 12.5%.

 

 

Asaase Broadcasting Company airs on Asaase 99.5 Accra, Asaase 98.5 Kumasi, Asaase 99.7 Tamale, Asaase 100.3 Cape Coast, AsaasePa 107.3 (Accra).
Affiliates: Azay FM 89.1 (Takoradi), Bawku FM 101.5, Bead FM 99.9 (Bimbilla), Mining City Radio 89.5 (Tarkwa), Nyatefe Radio 94.5 (Dzodze), Somuaa FM 89.9 (Gushegu), Stone City 90.7 (Ho) and Wale FM 106.9 (Walewale).

Listen online: 
asaaseradio.com, Sound Garden and TuneIn.
Follow us:
X
@asaaseradio995@Asaase985ksi@Asaase997tamale@asaase1003asaasepa1073
Instagram
asaaseradio99.5asaase985ksiasaase100.3asaase99.7tamaleasaasepa107.3
LinkedIn
company/asaaseradio995TikTok@asaaseradio99.5, Facebookasaase99.5asaase985ksiAsaase100.3asaase99.7AsaasePa107.3.
YouTube
AsaaseXtra.
Join the conversation. Accra: call 020 000 9951/054 888 8995, WhatsApp 020 000 0995. Kumasi: call 059 415 7985 or call/WhatsApp 020 631 5260. Tamale: call/WhatsApp/SMS 053 554 6468. Cape Coast: call/WhatsApp 059 388 2652.

#AsaaseRadio
#AsaasePa
#TheVoiceofOurLand

Source
Graphiconline
Show More

Related Articles

Back to top button

Adblock Detected

ALLOW OUR ADS