…rises for second straight to 3.7% in May
Ghana’s inflation rate rose to 3.7 percent in May, its highest reading since January, raising concerns over renewed price pressures after more than a year of declining inflation in Africa’s top gold producer.
Data released on Wednesday by the Ghana Statistical Service showed inflation climbed from 3.4 percent in April, representing a 0.3 percentage-point increase driven largely by rising food prices.
The latest reading marks the second inflation uptick in the past 16 months, following a prolonged downward trend that began after inflation peaked at 23.8 percent in December 2024.
Speaking at the monthly data release in Accra, Alhassan Iddrisu, government statistician said food prices were the primary driver of the increase in headline inflation.
Food inflation accelerated to 3.3 percent year-on-year in May from 2.2 percent in April, while non-food inflation eased slightly to 4.1 percent from 4.2 percent over the
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