May 2024 saw a 23.6% inflation rate at ex-factory prices for all goods and services  was higher than the 16.8% rate seen in April 2024.

Source: newsthemegh.com/Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

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.