The year-on-year Inflation for May 2023 has jumped 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% in April 2023 to 51.8% in May 2023.
However, the Non -Food Inflation declined to 34.6% in May 2023, from 35.4% recorded in April 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 Food Inflation to the overall national inflation rate was the highest in 17 months.
From the data published by the GSS on division basis, furnishing and households equipment recorded 57.8% while food and non-alcoholic beverages recorded 51.8%.
On regional rates of inflation, the Ashanti region recorded the lowest national inflation of 31 percent while the Western North region recorded the highest with 62.5 percent.
