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
-
Sustainable Finance: How banks are driving SDG Goals
15 mins -
Guinness Ghana DJ Awards 2024: MC Portfolio nominated as Best MC/Hype man
18 mins -
MFWA holds Peace Dialogue for Youth in the Volta Region
28 mins -
Galamsey fight: Kofi Koranteng wants jail time for Akufo-Addo and ministers over ‘gross incompetence’
31 mins -
FirstBank Ghana joins Global Cybersecurity Awareness Month Initiative
35 mins -
NPP MPs ask Bagbin to recall Parliament after indefinite adjournment
41 mins -
Alan Kyerematen backs calls for forensic audit of Voters Register
46 mins -
G7 Security Systems donates to Hope Training Institute
56 mins -
I would like to feature 50 Cent on remix of ‘Unsinkable’ – Shortman
1 hour -
NSMQ24: TAMASCO stages stunning comeback; beats St John’s School, Accra Academy to secure semi-final slot
1 hour -
Missy Elliott, Queen Latifah first rappers awarded with National Medals of Arts and Humanities
1 hour -
Akufo-Addo to cut sod for construction of Manganese Refinery as gov’t’s value addition drive deepens
2 hours -
EFL criticises NDC’s inaction, calls for recall of Parliament to impeach Akufo-Addo
2 hours -
Springfield Group denies submitting contradictory data to government; demands apology from ACEP
2 hours -
Joe Mettle girds up for ‘Sing Over Ghana’ prayer event
2 hours