Bread records highest inflation of 41.3% in May 2022 – GSS

May inflation jumps to 27.6%

Fuel and transport fares recorded a rate of 39.9%

Imported inflation stands at 28.2%

Bread recorded the highest inflation rate of 41.3% in May 2022 according to data released by the Ghana Statistical Service (GSS).

Inflation for the month of May from the inflation basket of 307 items shot up from 23.6% in April to 27.6% with prices of bread taking the lead.

Fuel and transport fares recorded a rate of 39.9%.

Bread, fuel, and transport fare are part of the list of top 10 goods and services that have inflation rates higher than the national average.

Government Statistician, Professor Samuel Kobina Annim, however, noted that fuel and transport fares were the items that contributed significantly to expenditure of non-food households.

“If you look at the data, you will realize that fuel and transport fares recorded the significantly high rates.”

“Others include fuel, house rental, imported rice, hotel accommodation, fish, smoked herrings, and education,” he added.

The Government statistician further noted that all the goods and services in the inflation basket recorded an increase in prices year-on-year, while month-on-month rates stood at 4.1%.

Imported inflation of 28.2% was still higher than domestic inflation of 27.3%.