The taste buds of several Ghanaians have sent the inflationary rate for May 2023 up the roof.
The inflation rate in the country had for the past four months been on a downward spiral but the trend appears to have been halted after the release of the inflation rate for May.
Inflation for the month of May 2023 rose to 42.2% from the 41.2% recorded in April 2023.
This upward trend according to data from the Ghana Statistical Service can be primarily attributed to a significant spike in food inflation during this period.
Inflation for May 2023 rises to 42.2% after four consecutive declines
Food inflation experienced a notable surge, jumping from 48.7% in April 2023 to 51.8% in May 2023.
Items including dog meat, sanitary pads, palm wine and indomie among others recorded an inflation rate above 70% year-on-year.
Below is the table of the figures released by the Ghana Statistical Service:
