The country’s inflation rate reached a three-month high in June, largely influenced by the significant increase in food prices, according to current data.
Following a peak of 54.1% in December, inflation had been gradually decreasing for four consecutive months until April.
However, it rose again to 42.5% in June, up from 42.2% in May, as reported by Government Statistician Samuel Kobina Annim.
During a press briefing held in Accra, Prof. Annim emphasized the importance of policymakers thoroughly examining the factors contributing to the rise in food inflation.
He pointed out that food inflation consistently exhibited a higher increase, with a notable difference of approximately 20 percentage points compared to non-food inflation.
The rise in food inflation suggests that prices of essential food items have been experiencing substantial upward pressure, impacting the overall inflation rate.
He urged policymakers to identify and address the underlying causes of this trend to mitigate the effects on consumers and the broader economy.
Prof. Annim, addressing journalists after announcing the June inflation figures, pointed out that prices of essential staple foods, including vegetables and fish, continued to witness significant increases during the period. He emphasized the need to understand why food inflation was rising and called for a focus on narrowing the gap between food and non-food inflation.
According to Prof. Annim, food inflation stood at 54.2%, surpassing the national average. The prices of imported food products recorded a substant