Inflation Slumps To 12.1 – Daily Guide Africa

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Baah Wadieh, Acting Government Statistician

The year-on-year change in prices of goods and services for the month of June stood at 12.1 percent, down by 0.5 percentage point from the 12.6 percent recorded in May 2017.

The monthly change rate for June 2017 was 0.9 percent compared to 0.7 percent recorded for May 2017.



Baah Wadieh, acting Government Statistician, disclosed this to journalists yesterday in Accra.

Food

The acting Government Statistician said the food and non-alcoholic beverages group recorded a year-on-year inflation rate of 6.2 percent.

“This is 0.1 percentage point lower than the rate recorded in May 2017. Two subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 6.2 percent.”  

Non-food

The non-food group, he said, recorded a year-on-year inflation rate of 15.1 percent in June 2017 compared to the 15.8 percent recorded for May 2017.

Six subgroups recorded year-on-year inflation rates higher than the group’s average rate of 15.1 percent. Transport recorded the highest inflation rate of 23.1 percent, followed by Recreation and culture with 20.8 percent, Furnishings, household equipment and routine maintenance with 20.6 percent, Clothing and footwear with 16.6 percent, Miscellaneous goods and services with 15.4 percent and Health with 14.3 percent.

Inflation was lowest in the housing, water, electricity, gas and other fuels subgroup (7.1 percent).

Regionals

At the regional level, the year-on-year inflation rate ranged from 8.6 percent in the Upper East Region to 13.1 percent in Upper West region.

Five regions (Upper West, Greater Accra, Brong Ahafo, Ashanti, and Western) recorded inflation rates above the national average of 12.1 percent.

A business desk report

 

 

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