Inflation continues upward trend; reaches 23.6% in April
Headline inflation rate for the month April 2022 was 23.6%
Compared to that of the previous month, headline inflation is 4.2 percentage points higher than the 19.4% recorded in March 2022.
The month-on-month inflation between March 2022 and April 2022 was 5.1%.
Four divisions (Transport, Household Equipment and Routine Maintenance, Food and Non-Alcoholic Beverages, and Housing, Water, Electricity, Gas and Other Fuels) recorded inflation rates above the national average of 23.6% with Transport (33.5% ) recording the highest inflation for the inflation rates of all divisions).
Regional inflation
At the regional level, the overall year-on-year inflation ranged from 18.4% in the Upper East Region to 26.7% in the Central Region.
Central Region again recorded the highest month-on-month inflation (8.8%).
All regions recorded positive month-on-month inflation rate in April 2022 (above 2.0%).
Food and non-food inflation
This month’s food inflation (26.6%) is higher than both last month food inflation (22.4%) and the average of the previous 12 months (13.5%).
Food inflation’s contribution to total inflation, however, decreased from 51.4% in March 2022 to 50.0% in April 2022.
Overall month-on-month food inflation was 5.8%, which is higher than both the twelve month national month-on-month rolling average of food inflation (2.0%) and the rate recorded for April 2021 (2.3%).
All the 15 food subclasses recorded positive month-on-month inflation with Fruit and Vegetable Juices recording the highest (15.3%).
Non-food year-on-year inflation on average went up again in April 2022 compared to March 2022 (from 17.0% to 21.3%).
Only one out of the 12 non-food divisions had the 12 months rolling average to be higher than the year-on-year inflation for April 2022 for the divisions.
Transport is the division that recorded the highest inflation in April 2022 (33.5%).
Imported and local inflation
The inflation for imported goods was 24.7% (which is higher than the 17.3% recorded for March 2022) while the inflation for locally produced items was 23.0% (up from the 20.0% recorded in March 2022).
