Inflation for the month of April 2024 declined to settle at 25%.
This is per the latest data disclosed by the Head of the Ghana Statistical Service (GSS), Professor Samuel Annim during a press briefing on Wednesday, May 8, 2024.
The marginal dip in inflation marks a month-on-month decline of 80 basis points (0.8%) when compared to the March inflation figure of 25.8%.
READ ALSO: Inflation surges to 25.8% in March
Food inflation, the GSS notes, contributed to the overall drop in the rate of inflation as it recorded a rate of 26.8%, the lowest in 13 months with non-food inflation pegged at 23.5%.
“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.”