Inflation hits 31.7% in July 2022

Year-on-year inflation has crossed the 30% mark to hit 31.7% for the month of July 2022.

This was revealed by the Ghana Statistical Service after its monthly monitoring.

However, the rate of inflation slowed in the month under review, as inflation went up by 1.9% over that of June 2022 (29.8%).

The increase in inflation was once again fuelled by Transport (44.6%); Housing, Water, Electricity, Gas and Other Fuels (43.0%).

The others are furnishings, household equipment and routine household maintenance (42.0%); Recreation, Sport and Culture (33.8%); Personal Care, Social Protection and Miscellaneous Goods and Services (33.7%) and Food and Non-Alcoholic Beverages (32.3%).

In June, inflation shot up further by 2.2% to 29.8% in June 2022, which was the highest since December 2003.



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