Inflation in April dropped to 25.0% – GSS

The Ghana Statistical Service (GSS) has announced a drop in the country’s inflation for April.

At a media briefing on Wednesday, May 8, Government Statistician Prof. Samuel Kobina Annim said the inflation recorded in April was 25.0%.

The figure indicates that the rate of inflation declined by 0.8% when compared to the inflation recorded in March, 25.8%.

“Year-on-year inflation for the month of April 2024 stood at 25.0%. This literally means that goods and services, that is the general prices of goods and services between April 2023 and April 2024 went up by 25%

This rate recorded for the month of April 2023 indicates a 0.8 percentage point slowdown relative to the rate that was recorded in March 2024. In March 2024 we recorded an increase of 2.6 percentage points from April 2024 rate of 22.2% to 25.8% for the month of March 2024,” Government statistician Prof. Samuel Kobina Annim told the media.

Despite the decline in inflation, prices of goods and services generally went up by 1.8% on a month-on-month basis, that is between March 2023 and April 2024.

Prof. Samuel Kobina Annim explained that this month-on-month inflation of 1.8% indicates a 1.0 percentage point increase relative to the rate that was recorded in March 2024.