Finance

Inflation dropped from 25% to 23.1% in May 2024

Ghana’s inflation rate decreased marginally from the 25% recorded in April 2024 to 23.1% in May 2024.

Government Statistician of the Ghana Statistical Service, Professor Samuel Kobina Annim, revealed this at a press conference in Accra on Wednesday, June 12, 2024.

The month-on-month inflation for May 2024 experienced a 3.2% reduction.

According to the figures released by the Ghana Statistical Service (GSS), food inflation was the major contributor to the overall decrease in the inflation rate.

Food inflation for the month of May was 22.6%, compared to the 26.8% recorded in the previous month, April. This represents a deceleration from the 2.7% increase recorded in April 2024.

Non-food inflation was 3.6% month-on-month.

Consumer Price Index measures changes in the price level of a fixed basket of goods and services purchased by households.

 

Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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