Ghana’s Inflation Now At 17.9%

InflationThe Ghana Statistical Service, GSS, says inflation for the month of July 2015 is 17.9% from the 17.1% recorded in June 2015.

The monthly change rate for April is 2.3% while that of June was 1.8%.

Food inflation rose to 7.6% compared with the 7.4% recorded for June 2015 where as non food inflation recorded 24.6% moving up 1.0% from that of June 2015 which was 23.6%.

The main price drivers for non-food inflation were housing, water, electricity, gas and other fuels recording the highest inflation rate of 27.1%, but communication recorded the lowest in the communication subgroup recording 13.1% with transport recording inflation rate of 25.7% and clothing and foot wear 24.9% in the non-food group.

The consumer price index measures the change over time in the general price levels of goods and services, that households require mainly for consumption.

According to the Chief Executive of the Ghana Statistical Service, Dr. Philomena Nyarko, the current inflation is high due to recent utility price adjustments.

At the regional level, the year-on-year inflation rate ranged from 14.3% in the Northern region to 19.8% in the Central region.

Four regions, namely Central, Ashanti, Volta and Upper East, recorded inflation rates above the national average of 17.9%.

The Northern region recorded the lowest inflation rate of 14.3% while the Central region recorded the highest regional inflation rate of 19.8%.

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