Inflation rate drops in June to 22.8%



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The
inflation
rate
for
the
month
of
June
has
dropped
to
22.8
percent,
the
Government
Statistician,
Professor
Samuel
Kobina
Anim,
has
announced.

Prof
Anim
stated
that
the
drop
represents
a
decline
of
0.3
percentage
points
from
that
of
the
month
of
May
which
was
at
23.1
percent.

He
said
this
at
a
press
conference
in
Accra
on
Wednesday,
July
10,
2024.

“The
year-on-year
inflation
for
June
2024
stood
at
22.8
percent,
signalling
that
between
June
2023
and
June
2024,
the
prices
of
goods
and
services
went
up
by
22.8
percent.
This
rate
of
inflation
indicates
a
slowdown
by
0.3
percentage
points
on
a
month-on-month
basis
as
the
rate
for
May
2024
stood
at
23.1
percent,”
he
said.

Four
divisions
recorded
an
inflation
rate
higher
than
the
overall
inflation
of
22.8
percent.

Alcoholic
Beverages,
Tabacco
and
narcotics
recorded
32.3
percent,
Restaurants
and
accommodation
services
recorded
30.7
percent,
Housing,
water,
electricity
also
had
26
percent
while
and
food
and
non-alcoholic
beverages
recorded
24
percent
higher
inflation
than
the
overall
rate
of
inflation
of
22.8
percent
for
June
2024.

Prof.
Anim
added
that
“the
Upper
East
region
recorded
the
highest
rate
of
inflation
with
35.20
percent,
with
the
Oti
region
recording
a
rate
of
12.5
percent.”

He
further
stated
that
“The
question
on
the
exchange
rate
is
always
an
important
one
that
is
why
we
have
provided
a
trend
analysis
from
June
2023
to
June
2024.
The
dominance
of
the
inflation
on
imported
items
can
be
aligned
to
the
exchange
rate
stability.”