Inflation rate for May drops to 23.1%

The Ghana Statistical Service (GSS) has announced that inflation for the month of May 2024 went down to 23.1%, representing a decline of 1.95 percentage points from the figure recorded in April, 25%.

Food inflation declined by 4.2% to 22.6% while non-food inflation increased to 23.6%, vegetables, tubers and plantains recorded the highest contribution of 3.6% percentage points to the food inflation’s 22.6%, the GSS added.

This was followed by ready-made food and fish and other sea food being the next food sub-classes with the highest contribution to food inflation.

More soon…