Inflation up 0.7% to 11.3% for May – GSS
The national year-on-year inflation rate was 11.3% in May 2020, which is 0.7 percentage points higher than last month’s, the Ghana Statistical Service (GSS) has announced
Month-on-month inflation between April 2020 and May 2020 was 1.7%.
This is lower than the 3.2% recorded between March and April 2020, but higher than the average month-on-month inflation recorded in the months October 2019 to March 2020 (0.7%).
Only two of the 13 Divisions had higher-than-average inflation rates: Food and Non-Alcoholic Beverages; and Housing, Water, Electricity and Gas (both 15.1%)
At the regional level, the overall year-on-year inflation ranged from 3.1% in the Upper East Region to 13.3% in Greater Accra.
When comparing Food to Non-Food inflation, there are clear differences between regions.
Ashanti (22.3%) and Western Region (19.8%) had the highest rates of Food inflation, while Eastern Region saw the highest Non-Food inflation (12.8%).
The Upper East, Northern, Eastern, and Volta Regions experienced higher Non-Food than Food inflation, the opposite was true for the other six regions. The month-on-month inflation rate between regions also differ.
The overall month-on-month inflation was between -1.5% in the Volta Region and 3.9% in the Ashanti Region.
The Western Region recorded a month-on-month Food inflation rate of 6.9%, while the Volta Region saw a decrease of -3.3%. Greater Accra saw an overall month-on-month inflation of 0.7% and a Food month-on-month inflation of -0.4%.