Government Statistician Professor Samuel Kobina Annim has revealed that Ghana’s inflation rate for April experienced a marginal decline to 25.0 percent from the previous month’s 25.8 percent.
This 0.8 percentage point drop, according to him, is largely attributed to a slowdown in food prices, which fell from 29.6 percent inflation in March to 26.8 percent in April.
However, it’s not all good news as non-food inflation has actually increased, climbing from 22.6 percent to 23.5 percent.
Professor Annim, speaking on May 8, 2024, highlighted the changes in the consumer price index, which stood at 213.3 in April 2024, up from 170.5 at the same time last year.
He said “Given these two indices, year-on-year inflation to the month of April 2024 stood at 25.0 per cent.” adding that it signals a mild relief following a significant 2.6 percentage point surge in March.
“The year-on-year rate of inflation for the month of April 2024 stood at 25. 0 per cent. This literally means that goods and services, thus, prices of goods and services between April 2023 and April 2024 went up by 25. 0 per cent.
“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.”
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Source: Anthony Sasu Ayisadu/ATLFMNEWS
