Business Ghana News

May inflation is 7.5%

Ghana Waves App

The national year-on-year inflation rate was 7.5% in May 2021, which is one percentage point lower than the 8.5% recorded in April 2021 the Ghana Statistical Service has announced.

Month-on-month inflation between April and May 2021 was 0.8% which is 0.7 percentage point lower than what was recorded in April.

’Housing, Water, Electricity, Gas’ (19.9% down from 25.0% last month) recorded the highest inflation.

One year ago, in May 2020 the GSS said it observed a peak in inflation (11.3%) but because such a peak did not occur this year, year-on-year inflation is relatively low this month.

At the regional level, the overall year-on-year inflation ranged from 2.6% in Western Region to 12.3% in Greater Accra Region.

Upper West Region recorded the highest month-on-month inflation of 4.3%.

Three regions saw a stark decline in Food inflation as compared to last month.

Western Region went from 6.5% to 0.4%, Eastern from 8.2% to 4.3%, and Ashanti from 9.8% to 5.9%.

On the other hand, Volta Region saw an increase in Food Inflation that is 5.6% to 9.8%.

Related posts

Coronavirus: Our target is to Vaccinate 20million Ghanaians – Nana Addo

Ghana Waves

Rawlings’ legacy would lead all to hunger and thirst for probity and accountability

Ghana Waves Radio News

Moody’s warns of challenges for Akufo-Addo’s government

Ghana Waves Radio News
track image