Josiah
Inflation in Ghana rose slightly to 3.4% in April, up from 3.2% in March, although it remains significantly lower than the 21.2% recorded during the same period last year, according to official data.
Figures from the Consumer Price Index show that prices increased by 1.0% between March and April, indicating that while overall inflation remains relatively low, there are signs of renewed monthly price pressures. The Government Statistician, Dr Alhassan Iddrisu, explained that the rise was not widespread but largely driven by increases in specific sectors such as housing, food, and services, while many other prices either remained stable or declined.
A key development in the latest data is a shift in the main drivers of inflation. Goods inflation slowed to 1.1% from 1.7% in March, but services inflation rose notably to 9.6% from 7.2%, suggesting that cost pressures are increasingly coming from the services sector rather than goods.
Food inflation declined to 2.2%, while non-food inflation increased to 4.2%, further indicating that price increases are gradually moving away from food items. Meanwhile, locally generated inflation dropped to 4.7%, whereas imported inflation turned positive at 0.5%, pointing to a growing influence of external factors.
Officials identified charcoal prices, rent, and senior high school fees as key contributors to the recent increase. Despite the slight rise, inflation remains much lower than last year, reflecting an overall easing trend, even as some cost pressures begin to re-emerge.
