Ghana: Inflation Drops Marginally to 25.0 Percent in April

10 May 2024
Ghanaian Times (Accra)
By Kingsley Asare

The country's year-on-year inflation rate fell to 25.0 per cent in April from 25.8 in March, the Ghana Statistical Service (GSS) has announced.

Month-on-month inflation between March and April this year stood at 1.8 per cent.

Data made available to the Ghanaian Times in Accra on Wednesday on the Ghana April 2024 Consumer Price Index and Inflation by the GSS attributed the marginal fall in the April inflation rate to the drop in food inflation rate.

Food inflation rate, the data said, fell by 2.1 per cent to 26.8 per cent in April from 29.6 per cent in March.

Vegetables, tubers, plantains, cooking bananas and pulses, ready-made food and other food products, fish and other sea foods, fruits and nuts, sugar, confectionery and desserts recorded inflation rates of 39.5 per cent and 27.2 per cent, 29.6 per cent, 27.7 per cent, 27.1 per cent respectively, which were above the national average of 26.8 per cent.

Also, fruits and vegetable juices, coffee and coffee substitutes, tea and related products and cocoa drinks also recorded inflation rates of 33.1 per cent, 39.5 per cent, 59.3 per cent and 63.4 per cent respectively.

Cereals and cereal products, milk and other dairy products and eggs, oil and fats, water and soft drinks recorded inflation rates of 15.4 per cent, 19.7 per cent, 18.4 per cent, 8.9 per cent, 25.5 per cent respectively below the national average of 26.8 per cent.

Non-food inflation, the data revealed, increased by 1.5 per cent to 23.5 per cent in April from 22.6 per cent in March.

Under the non-food inflation, the data said restaurants and accommodation, personal care, social protection and miscellaneous goods and services, health, recreation, sport and culture recorded inflation rates of 33.9 per cent, 31.9 per cent, 31.2 per cent, 28.7 per cent respectively above the national average of 23.5 per cent.

Information and Communication, transport, insurance and financial services, on the other hand, recorded inflation rates of 14.7 per cent, 10.3 per cent and 9.6 per cent respectively, below the national average of 23.5 per cent.

The data said inflation for locally produced items fell to 25.7 per cent in April from 26.6 per cent in March, while inflation rate for imported items also fell to 23.5 per cent in April from 23.8 per cent in March.

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