After declining for the first four months of the year, the consumer price inflation has resumed an upward trend again, increasing from 41.2 per cent in April to 42.2 per cent in May.
Last month’s inflation was driven by food inflation which increased from 48.7 per cent in April to 51.8 per cent.
Non-food Inflation, however, decreased from 35.4 per cent in April to 34.6 per cent.
Inflation for locally produced items was 36.2 per cent while that of imported items was 43.8 per cent.
The Government Statistician, Prof. Samuel Kobina Annim, disclosed that the main drivers of this inflation are food and non-alcoholic beverages constituting 52.4%. Housing, Water, Electricity, Gas, and other fuels constituted 13.1%, and transport contributed 9.2%.
Clothing and footwear had 6.4% while furnishings and household equipment had 4.4%. Insurance and financial services constituted the lowest with 0.1%.
Speaking to journalists and other stakeholders at the Kumasi Technical University, Prof. Annim stressed that the data from the Ghana Statistical Service is credible as extensive research has been conducted.
Source: mybrytfmonline Mensah Atakora
