Prof. Samuel ANNIM

14 Jun

Inflation For May 2023 Increases Marginally To 42.2%

wontumionlineBusinessGhana, Inflation, Prof. Samuel ANNIM

The year-on-year Inflation for May 2023 has increased to 42.2% from 41.2 % recorded in April 2023. The marginal increase was largely influenced by a spike in food Inflation during the period. According to the Ghana Statistical Service, Food Inflation went up significantly from 48.7 percent in April 2023 to 51.8 percent for the month of May 2023. However, the Non -Food Inflation decline from 35.4 percent in April to 34.6 percent in May 2023 . The Government Statistician, Prof. Samuel Kobina Annim made the announcement in Kumasi in the Ashanti region. Prof. Annim explained that the contribution of the…

10 Nov

Increase In Food Prices, Others Push October Inflation To 40.4%

wontumionlineBusinessGhana, GSS, Inflation, Prof. Samuel ANNIM

Increases in food prices; housing, electricity and fuel, and three other divisions pushed inflation for the month of October 2022 to 40.4 %. This means the cost of credit is expected to go up further as the Bank of Ghana is set to take a decision on the policy rate – the rate at which it lends to commercial banks- by November 25, 2022. The food inflation recorded the highest rate among all the components as against non-food inflation, according to figures from the Ghana Statistical Service. The increase by food inflation indicates a jump of more than 3% from…