June inflation hits 10%

Inflation for June hit 10 per cent, up from the 9.8 per cent recorded in May 2018, the Ghana Statistical Service, has announced.

The 10 per cent in June 2018 is the percentage change in the Consumer Price Index (CPI) over the twelve-month period, from June 2017 to June 2018.

The monthly change rate for June 2018 was 1 per cent, same as the rate recorded in May 2018. 

The Food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.3 per cent. This is 0.3 percentage points lower than the 7.6 per cent recorded in May 2018. Six sub-groups of the food and non-alcoholic beverages group recorded an inflation rate higher than the group’s average rate of 7.3 per cent. The sub-groups were Coffee, tea and cocoa (10.3%), Fruits (9.6%), Meat and meat products (8.7%), Mineral water, soft drinks, fruit and vegetable juices (8.4%), Vegetables (8.3)% and Food products (7.7%).

The non-food group recorded a year-on-year inflation rate of 11.2 per cent in June 2018, compared to the rate of 10.9 per cent recorded in May 2018. Five sub-groups of the non-food group recorded year-on-year inflation rates higher than the group’s average rate of 11.2 per cent. Clothing and footwear (16.1%), Transport (15.5%), Recreation and Culture (13.8%), Furnishing, Household Equipment and Routine Maintenance (13.3%) and Miscellaneous goods and services (12.7%). Inflation was lowest in the Housing, Water, Electricity, Gas and Others Fuels sub-group (3.4%).

At the regional level, the year-on-year inflation rate ranged from 8.1 per cent in the Upper East Region to 11.9 per cent in Upper West Region. Four regions (Upper West, Brong Ahafo, Western and Ashanti) recorded inflation rates above the national average of 10 per cent and Northern Region recorded the same inflation rate as the national average of 10 per cent.

Source : Ghana/ClassFMonline.com