The Ghana statistical services has pegged inflation for May 2023 at 42.2%, a 1.0% increase in the 41.2% recorded for April as prices of food commodities see a marginal surge.This would be the first rise in the figure this year after a drop in inflation for four consecutive months since January 2023.
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Government Statistician Professor Samuel Kobina Annim attributed the surge in inflation to hikes in prices of food items, with food inflation surging to 51.8% from the 48.7% recorded in April. Non-food inflation however recorded a marginal drop from 35.4% in April to 34.6% in May.Month-on-Month inflation between April 2023 and May 2023 stood at 4.8%, a rise in the 2.4% month-on-month inflation between March 2023 and April 2023.
The Western North region recorded the highest regional inflation of 62.5% with the Ashanti region recorded the lowest of 31.0%.
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