Ghana: June Inflation Rises to 10%

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Inflation rate Ghana for June 2018 inked up to10 percent, driven by an increase in prices of non-food items, the country’s statistical body reported.

This represents a 0.2 percent increase compared to the 9.8 percent recorded in May 2018.

“The rise in inflation for the month of June was due to the rise in inflation of non-food items,” said government statistician Baah Wadieh in Accra.

According to him, “Clothing and footwear recorded the highest inflation rate of 16.1 percent, followed by Transport with 15.5 percent, and with these subsectors being in high demand and leading in inflation with the non-food items, it affected overall inflation.”

The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.3 percent. This is 0.3 percentage point lower than the rate recorded in May 2018.

The non-food group recorded a year-on-year inflation rate of 11.2 percent in June 2018, compared to the 10.9 percent recorded for May 2018. Five subgroups recorded year-on-year inflation rates higher than the group’s average rate of 11.2 percent.

Consumer Price Inflation (CPI) measures the average change over time in the general prices of goods and services. It shows the rate at which prices increase over a period of time.



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