According to Ghana Statistical Services (GSS), the country’s Consumer Price Index (CPI) increased to 31.7% in July from the 29.8% recorded the previous month.
The cost of a predetermined basket of goods and services that households purchase is measured by the CPI.
Professor Samuel K. Annim, a government statistician, announced this in Accra yesterday and attributed the increase in the July inflation rate to rising costs for housing, transportation, water, and electricity.
According to Prof. Annim, Ghana recorded 27.0% for the second quarter compared to 16.3% in the first quarter, which means that the average rate of inflation has increased by 10.7 percentage points on a quarterly basis.
He said food inflation rose from 30.7 per cent in June to 32.3 per cent in July, with a month-on-month inflation of 3.3 per cent, while non-food inflation recorded 31.3 per cent and a monthly rate of 3.0 per cent.
Six division, Prof. Anim said recorded rates higher than the overall inflation rates. These were transport (44.6 per cent), housing, water, electricity, gas and other fuels (43.0 per cent), furnishing, household equipment (42.0 per cent) recreation, sport and culture (33.8 per cent), personal care, social protection (33.7 per cent), food and non-alcoholic beverages (32.3 per cent).
He explained that on yearly basis, the difference between food and non-food inflation was one percentage points while on monthly basis it was 0.3 percentage point.
Prof. Anim mentioned that the percentage point increase in non-food inflation between June and July 2022 was 1.6 per cent.
He said inflation rate for locally produced items was 30.9 percent while that of imported items was 33.9 per cent adding that “in the fourth time in a row imported items record higher inflation rates higher than locally produced items.”
He stated the difference between inflation for imported items and locally domestic items was 3.0 per cent.
Prof.Anim said eight food subclasses recorded higher rates than the overall food inflation of 32.3 per cent.
These are oils and fats (67.0 per cent), fish and sea food (42.9 per cent), water (42.4 per cent), cereal (40.0 per cent), milk, dairy products and eggs (39.7 per cent), fruits and vegetables (37.7 per cent), live animals and meat (34.5 per cent) and sugar and desserts (32.8 per cent).
On regional inflation, Prof. Anim said Western Region recorded highest food inflation of 44.8 per cent while the Eastern Region recorded the highest non-food inflation of 36.6 per cent.
Eastern Region recorded the overall highest inflation(38.1 per cent), followed by Western Region (37.6 per cent) and Greater Accra ( 35.5 per cent).
BY JEMIMA ESINAM KUATSINU
