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Inflation out of control, now at 23.6%, transport inflation 33.5%

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Inflation, Ghana

The national year-on-year inflation rate increased by 4.2 percentage points to 23.6% in April 2022, the Ghana Statistical Service has announced.

Professor Kobina Annim, the Government Statistician also disclosed that Month-on-month inflation between March 2022 and April 2022 was 5.1% .

Four Divisions (Transport, Household Equipment and Routine Maintenance, Food and Non-Alcoholic Beverages, and Housing, Water, Electricity, Gas and Other Fuels) recorded inflation rates above the national average of 23.6% with Transport (33.5%) recording the highest inflation.

Regional Inflation

At the regional level, the overall year-on-year inflation ranged from 18.4% in the Upper East Region to 26.7% in the Central Region. The Central Region also recorded the highest month-on-month inflation (8.8%).

All regions recorded positive month-on-month inflation rate in April 2022 (above 2.0%).

Food and Non-Food Inflation

April’s food inflation (26.6%) was higher than both March’s food inflation (22.4%) and the average of the previous 12 months (13.5%).

Food inflation’s contribution to total inflation however, decreased from 51.4% in March 2022 to 50.0% in April 2022.

The overall month-on-month food inflation was 5.8%, which is higher than both the twelve month national month-on-month rolling average of food inflation (2.0%) and the rate recorded for April 2021 (2.3%).

All the 15 food subclasses recorded positive month-on-month inflation with Fruit and Vegetable Juices recording the highest (15.3%).

Non-food year-on-year inflation on average went up again in April 2022 compared to March 2022 (from 17.0% to 21.3%).

Only one out of the 12 Non-food Divisions had the 12 months rolling average to be higher than the year-onyear inflation for April 2022 for the divisions (See Figure 1).

Transport was the Division that recorded the highest inflation in April 2022 (33.5%).

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