Prof. Samuel Kobina Annim
Month-on-Month inflation for goods and services for the month of July 2023 is 43.1 per cent, indicating an increase from the 42.5 per cent recorded for June 2023.
This was revealed by the Government Statistician at the Ghana Statistical Services (GSS), Prof. Samuel Kobina Annim.
July would be the third month that the prices of goods and services have risen after a descending pattern was noticed in the first four months of the year when inflation slowed from 54.1 per cent in December 2022 to 41.2 per cent in April 2023.
According to figures from the Ghana Statistical Service, the rising Food and Non-Alcoholic Beverages Inflation (55.0%) pushed the overall inflation up.
The month-on-month food inflation was, however, 3.8%.
The Non-Food Inflation stood at 38.3% in July 2023, from 33.4 % recorded in June 2023. The month-on-month non-food inflation was, however, 3.4%.
Inflation for locally produced items was 37.5%, whilst inflation for imported items was 45.7%.
Five divisions recorded inflation higher than the national average. They were Personal Care, Social Protections and Miscellaneous Goods and Services (60.5%); Furnishing, Household Equipment and Routine Household Maintenance (56.9%); Food and Non-Alcoholic Beverages (55.0%); Alcoholic Beverages, Tobacco and Narcotics (48.7%) and ((48.7%); and Housing, Water, Electricity, Gas and Other Fuels (47.4%).
For food inflation, Tea and Related Products (150.0%); Cocoa Drinks (86.5%); Fruits and Vegetables Juices (66.7%); Cereals and Cereal Products (64.2%); Sugar, Confectionary and Desserts (62.7%); Oil and Fats (59.5%); Milk and Other Dairy Products and Eggs (58.3%); Coffee and Coffee Substitutes (58.2%); Fish and Other Sea Foods (57.7%) and Live Animals, Meat and Other Parts of Slaughtered Land Animals (55.2%); recorded year-on-year inflation higher than the overall food inflation.
By Abigail Atinuke Seyram Adeyemi