Month-on-month inflation between April and May 2021 was 0.8% which is 0.7 percentage point lower than what was recorded in April.
ADVERTISEMENT
Inflation falls to 7.5% in May 2021
The national year-on-year inflation rate was 7.5% in May 2021, which is one percentage point lower than the 8.5% recorded in April 2021, the Ghana Statistical Service has announced.
Inflation eased considerably by 1% to 7.5% in May 2021, signaling a likely drop in cost of credit, all things being equal.
Recommended articles
![10 African countries with the lowest inflation rates in 2024 [Getty Images]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "10 African countries with the lowest inflation rates in 2024 [Getty Images]")
’Housing, Water, Electricity, Gas’ (19.9% down from 25.0% last month) recorded the highest inflation.
One year ago, in May 2020 the GSS said it observed a peak in inflation (11.3%) but because such a peak did not occur this year, year-on-year inflation is relatively low this month.
At the regional level, the overall year-on-year inflation ranged from 2.6% in Western Region to 12.3% in Greater Accra Region.
ADVERTISEMENT
Upper West Region recorded the highest month-on-month inflation of 4.3%.
Three regions saw a stark decline in Food inflation as compared to last month.
Western Region went from 6.5% to 0.4%, Eastern from 8.2% to 4.3%, and Ashanti from 9.8% to 5.9%.
On the other hand, Volta Region saw an increase in Food Inflation that is 5.6% to 9.8%.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
Delta to serve Ghana with new Airbus A330-900neo
SSNIT may be broke by 2036, may not pay pensioners fully and timely - ILO warns
SML counters KPMG: Denies GH¢1bn payment claim, citing inaccuracy
SML's commitment to transparency shines through amidst audit
Fuel prices expected to stay below GH¢18 - CBOD assures consumers
Rebecca Osam weighs in: Idea vs. Capital - Which holds the key to business success?
10 African countries with the lowest inflation rates in 2024
Towering Heat: Exploring the efficiency of vertical radiators in heating large rooms
