News | Finance: Ghana’s inflation rate rise to 10 per cent

Finance: Ghana’s inflation rate rise to 10 per cent

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The inflation rate for June 2018 rises to 10 percent as a result of increases in prices of non-food items in the country.

This figure is an increase of 0.2 per cent as compared to the 9.8% recorded in May 2018.

According to the government statistician, Dr Baah Wadieh, prices of imported commodities continue to record a price increase for the last three months.

The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.3 per cent. 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% in June 2018, compared to the 10.9 per cent recorded for May 2018. Five subgroups recorded year-on-year inflation rates higher than the group’s average rate of 11.2%.

Clothing and footwear recorded the highest inflation rate of 16.1% followed by Transport with 15.5%, Recreational and culture with 13.8%, furnishings, household equipment and routine maintenance with 13.3% and Miscellaneous goods and services with 12.7%.

Inflation was lowest in the Housing, Water, Electricity, Gas and other fuel subgroups (3.4%).

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