Thursday, June 19, 2025
Rainbow Radio
  • Home
  • General News
  • Governance
  • Sports
  • Politics
  • Health
  • Entertainment
  • Economy
  • Home
  • General News
  • Governance
  • Sports
  • Politics
  • Health
  • Entertainment
  • Economy
No Result
View All Result
Rainbow Radio Online
Home Business

Ghana’s recent higher inflation due to factors beyond the control of govt- Minister

May 12, 2022
Ofori-Atta

Finance Minister Ken Ofori-Atta says Ghana’s rising inflation is beyond the government’s control since several factors have contributed to that.

He indicated that Ghana is not the only one affected but other African countries are also affected.

RelatedPosts

GETFund, Sky Brokers sign MoU to fast-track education projects

Wilful loan defaulters will face a 5-year ban – BoG announces

Implementation of GHC 1 fuel levy postponed until further notice

The Minister said global inflation has risen and that Ghana’s case is not an exception.

According to him, 41 African countries are currently exposed to the same crisis Ghana faces. These crises he mentioned are “rising food prices, rising energy prices, tightening financial conditions”.

He was addressing a press conference on Thursday, May 12, 2022.

“Today, 41 African economies are severely exposed to, at least, one of three concurrent crises, rising food prices, rising energy prices, tightening financial conditions Finance Ministers now call it the dreaded three Fs; food, fuel, and financial conditions.”

“That is just a ripple through in all Africa, and food prices easily about 34 per cent higher, crude oil prices some 60 per cent higher, and global inflation has risen; we saw our numbers yesterday moved to 23.6 per cent, a good chunk of it being imported inflation.”

The Ghana Statistical Service (GSS) on Wednesday, May 11, released the April inflation rate.

It said that the national year-on-year inflation rate was 23.6% in April 2022, which is 4.2 percentage points higher than the 19.4% recorded in March 2022.

According to the GSS, four divisions – Transport (33.5%); Household Equipment and Routine Maintenance (28.5%); Food and Non-Alcoholic Beverages (25.6%), and Housing, Water, Electricity, Gas, and Other Fuels (25.0%) recorded inflation rates above the national average of 23.6% with Transport recording the highest inflation.

National month-on-month inflation from March 2022 to April 2022 was 5.1%.

Whilst Food and Non-Alcoholic Beverages inflation was 26.6%, Non-Food inflation stood at 21.3%.

For Non-Food inflation, year-on-year inflation, on average, went up again in April 2022 compared to March 2022 (from 17.0% to 21.3%). Only one out of the 12 Non-food Divisions had the 12 months rolling average to be higher than the year-on-year inflation for April 2022.

Furthermore, the inflation for imported goods was 24.7% higher than the 17.3% recorded for March 2022, while the inflation for locally produced items was 23.0%, up from the 20.0% recorded in March 2022. This is the first time in 29 months that inflation for imported items exceeded domestic inflation.

By: Rainbowradioonline.com/Ghana

ShareTweetShareShare

Related Posts

MoU

GETFund, Sky Brokers sign MoU to fast-track education projects

June 18, 2025
BoG-696x456

Wilful loan defaulters will face a 5-year ban – BoG announces

June 17, 2025
GRA

Implementation of GHC 1 fuel levy postponed until further notice

June 14, 2025
Ghana-China

China has given Ghana a 0% tariff all exports – Ablakwa reveals

June 12, 2025
GPRTU

GHC1 fuel levy: GPRTU calls off intended strike

June 9, 2025
GRA

GRA postpones GHC1 fuel levy implementation to June 16

June 9, 2025

Recent News

bece-2

Lecturer commends WAEC for successful BECE, suggests non-teachers as invigilators

June 19, 2025
WIPES

Plastic wet wipes to be banned in Wales from 2026

June 19, 2025
NPP MP

We’re 88 MPs, but our quality is superior to a majority – NPP MP

June 19, 2025
Tobbin

Because of ‘abrɔ ne beyie’, the NDC does not want EC to declare results for Ablekuma North – NPP MP

June 19, 2025
  • Trending
  • Comments
  • Latest
Muntaka-750x375

Monday, March 31, and Tuesday, April 1, 2025, declared as public holidays

March 23, 2025

Something drastic must be done about prices of property in Ghana-Lawyer

June 14, 2021

Rainbow Radio expands its platform presence on 92.4Fm in UK

September 5, 2022
Screenshot_20230811-133044

17-year-old boy caught having sex with a pregnant dog

August 11, 2023

Hello world!

bece-2

Lecturer commends WAEC for successful BECE, suggests non-teachers as invigilators

travel4

Washington prepares for Donald Trump’s big moment

travel1

CS:GO ELeague Major pools and tournament schedule announced

bece-2

Lecturer commends WAEC for successful BECE, suggests non-teachers as invigilators

June 19, 2025
WIPES

Plastic wet wipes to be banned in Wales from 2026

June 19, 2025
NPP MP

We’re 88 MPs, but our quality is superior to a majority – NPP MP

June 19, 2025
Tobbin

Because of ‘abrɔ ne beyie’, the NDC does not want EC to declare results for Ablekuma North – NPP MP

June 19, 2025

Stay Connected test

  • 139 Followers
  • 20.2k Followers
  • 205k Subscribers
  • 23.9k Followers
  • 99 Subscribers
Rainbow Radio Online

© 2022 Rainbow Radio International

Navigate Site

  • General News
  • World
  • Sports
  • Business
  • Entertainment
  • Politics
  • Health
  • Opinion
  • Economy
  • Odd News
  • Culture
  • Lifestyle
  • Lifestyle
  • Governance
  • Technology

Follow Us

No Result
View All Result

© 2022 Rainbow Radio International

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version