Inflation for the month of June 2023 has marginally risen to 42.5%, compared to the previous month’s rate of 42.2%.
The increase can be attributed to higher food prices, with food inflation surpassing the national average at 54.2%.
Imported products also experienced a significant price increase of 43.8%, while locally produced items saw a comparatively lower rise of 36.2%.
The government Statistician, Professor Samuel Kobina Annim, has highlighted the notable price increase in vegetables, specifically tomatoes.
The average prices of tomatoes saw a significant rise during the period under review.
The escalation in food inflation presents challenges for consumers, as it directly affects household budgets and the affordability of essential commodities.
Prof. Samuel Kobina Annim advised policymakers to take a critical look at factors contributing to food inflation.
“At the minimum, we see a widening of the gap between food and non-food inflation. We need to focus on why we see food inflation going up. We have seen about a 20 percentage point change between food inflation and non-food inflation”.
