Year-on-year Inflation rate accelerates to 23.6 per cent in April

The Year-on-year inflation rate for April 2022 rose to 23.6 per cent compared with 19.4 per cent in March, the Ghana Statistical Services said on Wednesday.

The figure means that the rate rose 4.2 per centage points higher than the 19.4 per cent recorded in March 2022.

At a press briefing in Accra, Professor Kobina Annim, the Government Statistician said the month-on-month inflation between March 2022 and April 2022 was 5.1 per cent.

Transport, Household Equipment and Routine Maintenance, Food and Non-Alcoholic Beverages, and Housing, Water, Electricity, Gas, and Other Fuels recorded inflation rates above the national average of 23.6 per cent with Transport recording the highest inflation of 33.5 per cent.

Year-on-year Inflation rate accelerates to 23.6 per cent in April

Food and Non-Alcoholic Beverages inflation was 26.6 per cent and Non-Food inflation is 21.3 per cent.

 Food inflation’s contribution to total inflation, however, decreased from 51.4 per cent in March 2022 to 50.0 per cent in April 2022.

Overall month-on-month food inflation was 5.8 per cent, which is higher than both the 12 months national month-on-month rolling average of food inflation (2.0 per cent) and the rate recorded for April 2021 (2.3 per cent).

Non-food year-on-year inflation on average went up again in April 2022 compared to March 2022 (from 17.0 per cent to 21.3 per cent).

Only one out of the 12 Non-food Divisions had the 12-month rolling average to be higher than the year-on-year inflation for April 2022 for the divisions.

At the regional level, the Central region recorded the highest inflation of 26.7 per cent while the Upper East Region registered the lowest rate of 18.4 per cent.

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