Ghana records highest inflation rate since 2004

CFP Image
CFP Image

According to the latest statistics, Ghana’s inflation rate reached 23.6 percent in April, the highest since 2004.

Speaking at a regular press conference, the Government Statistician, Samuel Kobina  said that the food inflation increased to 26.6 percent and the non-food inflation increased to 21.3 percent in April.

Providing policy considerations for national and subnational decision-makers, the government statistician revealed that 295 out of the 305 brand items in the inflation basket recorded price increases.

“And 99 of the items recorded higher inflation rates than the national average inflation rate of 23.6 percent,” he added.

The Bank of Ghana, which is mandated to ensure price stability, is set to review the economy and make policy decisions in response to the surging inflation later this month.