Inflation in Ghana has hit 27.6 per cent for the month of May 2022, according to the Ghana Statistical Service
Compared to the 23.6 percent recorded in April, this represents a four percentage points jump in the inflation rate.
On a monthly basis, inflation however dropped by one per cent to a record 4.1 per cent in May 2022.
This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service (GSS) on Wednesday, June 8, 2022.
Food inflation rose again to record 30.1 percent compared to 26.6 percent recorded in April whoile Non-food inflation stood at 25.7 percent in May, compared to 21.3 percent recorded in the previous month.
The government asserts that the value of digital transactions rose by 120% between February 2020 and February 2021. In the previous year it rose 44%. The government is aware that most people are now accustomed to online transactions. They are convenient and people will find it difficult to revert to physical transactions.
