Transportation was the leading driver of inflation in June, as Ghana’s rate rose to 29.8 percent.
This was captured in a report released by the Ghana Statistical Service.
The hikes in fuel prices have, over the years, been pushing transportation costs upwards consistently.
Six of the 13 items for the computation of inflation recorded inflation rates higher than the national average, according to the Ghana Statistical Service.
Transportation stood at 41.6 percent; Household Equipment and Maintenance were 39.6 percent; Housing, Water, Electricity and Gas were at 38.4 percent, Personal Care and Miscellaneous Goods were at 31.7 percent; Recreation, Sports and Culture were at 31.3 percent and finally, the inflation of Food and Non-Alcoholic Beverages was at 30.7 percent.
Ghana’s inflation went up from the 27.6 percent in May 2022, with month-on-month inflation between May 2022 and June 2022 of 3 percent.
Food inflation stood at 30.7 percent, a marginal increase from 30.1 percent in May, while the average food inflation over the last 12 months was 17.5 percent.
However an economist Courage Martey is projecting that prices of goods and services will shoot up in the coming months arguing that the country’s inflation rate has not reached its peak.
Courage Martey has therefore described the continuous increase of inflation as scary.
Story by: Matilda Youpele and Aretha Forson
