Audio By Carbonatix
The year-on-year inflation rate at ex-factory prices for all goods and services was 23.6% in May 2024.
This was far higher than the 16.8% recorded in April 2024.
The month-on-month producer inflation rate was 3.0%.
According to the Ghana Statistical Service, the producer price inflation in the industry sector excluding the construction sector increased to 29.2% in May 2024 from 20.2% in April 2024.
The rate in the construction sector also increased to 54.7% in May 2024.
In the Services sector, the rate again increased from 9.4% in April 2024 to 11.4% in May 2024.
The Construction (54.7%), Mining and Quarrying (40.6%), Accommodation and Food Services Activities (25.9%) and Electricity and Gas (25.4%), recorded inflation rates above the national average (25.3%).
On the other hand, the Water Supply, Sewerage and Waste Management activity recorded the lowest rate of 7.4% in May 2024.
Latest Stories
-
Interior Ministry trains police officers on Armoured Bullion Vehicle operations
2 minutes -
OSP releases Baba Jamal on self-recognisance bail after interrogation
5 minutes -
BoG advocates practical framework to support orderly listing of banks on GSE
8 minutes -
Baba Jamal interrogated by Special Prosecutor over alleged vote-buying claims
20 minutes -
Hooked on survival: Human impact of climate-driven illegal fishing
32 minutes -
Agric economist demands end to political control in cocoa industry
55 minutes -
Speaker directs business committee to schedule anti-LGBTQ bill for parliamentary consideration
1 hour -
Inflation drop doesn’t mean prices have fallen – Oppong Nkrumah clarifies
1 hour -
Kenya to confront Russia over ‘unacceptable’ use of its nationals in combat
1 hour -
Running Ghana by elections, not by plans: Galamsey as the consequence
1 hour -
Israeli theatre scholar Prof Roy Horovitz brings cultural exchange to Ghana
1 hour -
Awula Serwaa slams Amansie Central Assembly over ‘Galamsey Tax’ defence
2 hours -
High airport infrastructure charges making Ghana’s aviation sector uncompetitive – stakeholders
2 hours -
Mining Indaba: African integration requires collective will – Armah-Kofi Buah
2 hours -
Drowning in hunger: Nawuni farmers struggle to survive amidst floods and climate change
2 hours