According to government statistician Samuel Kobina Annim, Ghana’s inflation rate for April decreased marginally to 25.0%.
This represents a slight decrease of 0.8 percentage points from the rate of 25.8% recorded in the previous month.
Professor Annim attributed this decline to a slowdown in food inflation, which decreased from 29.6 per cent in March to 26.8 per cent in April.
Conversely, non-food inflation rose to 23.5 per cent from the previous month’s 22.6 per cent.
In a speech on Wednesday, May 8, 2024, Professor Annim stated that the consumer price index in April 2024 was 213.3, as opposed to 170.5 for the same period in April 2023, meaning that there was a 25.0% annual inflation rate.
This slight decrease in inflation in April follows a significant increase in March, where inflation rose by 2.6 percentage points to 25.8 per cent.
“In the month of April 2024, the consumer price index stood at 213. 3 relative to 170. 5 that was recorded for the same time period in April 2023. Given these two indices, year-on-year inflation for the month of April 2024 stood at 25.0 percent,” Prof. Annim said.
“The year-on-year rate of inflation for the month of April 2024 stood at 25.0 percent. This literally means that goods and services, thus, prices of goods and services between April 2023 and April 2024 went up by 25.0 percent.”
“This rate that we recorded for the month of April 2023 at 0. 8 percentage point slowdown relative to the rate that was recorded in March 2024. In March 2024, we recorded an increase of 2.6 percentage points from the April 2024 rate of 23. 2 per cent to 25. 8 per cent for the month of March 2024.”
SEND A STORY: Do you have a story for us or need a promotion / advertisement? Submit them via our email, kumasionlinetv@gmail.com or via on +233 550623377
