Ghana’s inflation has continued its relentless climb, reaching an alarming peak of 43.1% for the month of July. This marks the third consecutive month of escalating inflation, with the previous rate standing at 42.5%.
The latest statistics, revealed on Wednesday, August 9, 2023, were announced by Professor Samuel Kobina Annim, the Government Statistician. Of particular concern is the significant spike in Food and Non-Alcoholic Beverages, which soared to a staggering 55.0%. Meanwhile, non-food items experienced an inflation rate of 33.8%.
While presenting the Consumer Price Index (CPI) data for July 2023, Professor Annim emphasized the critical need to combine monetary support with tangible interventions in the real sector as a strategic approach to tackle the mounting inflation issue.
For the regions, the North East Region recorded the highest inflation of 64.0%, while the Greater Accra Region recorded the lowest inflation of 31.8%.
