Inflation slows down marginally from 25.8% to 25% in April

Inflation slows down marginally from 25.8% to 25% in April

Ghana’s inflation rate dropped slightly to 25.0% in April, according to government statistician Professor Samuel Kobina Annim.

The rate of inflation decreased by 0.8 percentage points from the 25.8 percent recorded in the previous month.

The slowing in food inflation, which dropped from 29.6 percent in March to 26.8 percent in April, was a major contributing cause to this decline.

On the other hand, inflation outside of food increased to 23.5 percent from 22.6 percent in the previous month.

In his remarks on Wednesday, May 8, 2024, Professor Annim stated that the consumer price index in April 2024 was 213.3, as opposed to 170.5 for the same time in April 2023

As a result, in April 2024, the annual inflation rate was recorded at 25.0%.

“In the month of April 2024, the consumer price index stood at 213. 3 relative 170. 5 that was recorded for the same time period in April 2023. Given these two indices, year-on-year inflation to the month of April 2024 stood at 25.0 per cent.

“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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