Ghana’s food inflation increased from 26.6% in April to 30.1% in May, in the latest Consumer Price Index and Inflation data released by the Ghana Statistical Service (GSS).
The Consumer Price Index measures the changes in price of a fixed basket of good and services purchased by households.
The GSS collects data on approximately 39,500 products every month in 44 markets and 7,726 outlets.
The inflation for the month of May 2022 rose to 27.6% compared to 23.6% in April 2022.
Non-food inflation increased from 21.3% in April to 25.7% in May, whilst inflation for locally produced items and imported items stood at 27.3% and 28.2% respectively.
Across the board, the year-on-year inflation increased in all the divisions under consideration with the exception of Insurance and Financial Services, which saw a decrease from 5.4% within the June 2021 to May 2022 period, compared to May 2022.
Oils and fats, vegetables, and cereal products were the subclasses that recorded the highest month-on-month inflation.
Surprisingly, Water is number two when it comes to the disaggregated data of year-on-year inflation of food inflation, and the lowest with respect to month-on-month inflation.