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July inflation 9.4%

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The Ghana Statistical Service (GSS) has announced that the year-on-year inflation rate as measured by the Consumer Price Index (CPI) was 9.4 per cent in July 2019, a 0.3 percentage point increase from the 9.1 per cent recorded in June 2019.

The July rate is the percentage change in the Consumer Price Index (CPI) over the 12-month period from July 2018 to July 2019.

The monthly change rate for July 2019 was 0.6 per cent compared with the 0.8 per cent recorded for June 2019.

Read:Inflation for February increases to 9.2%

The Food and non-alcoholic beverages group recorded a year-on-year inflation rate of 6.6 per cent. This is 0.1 percentage point lower than the rate recorded in June 2019. Six subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 6.6 per cent.

The Non-food group recorded a year-on-year inflation rate of 10.7 per cent in July 2019, compared to 10.3% recorded for June 2019. Four subgroups recorded year-on-year inflation rates higher than the group’s average rate of 10.7 per cent.

Read:PFJ, Exchange rate stability drop inflation rate to 9.1%

Clothing and footwear recorded the highest inflation rate of 14.9 per cent, followed by Recreation and Culture, 14.8%; Furnishings, household equipment and routine maintenance with 14.6%, and miscellaneous goods and services (11.2%). Inflation was lowest in the education sub-sector with (6.4%).

At the regional level, the year-on-year inflation rate ranged from 8.5 per cent for the Upper East Region to 11.1 per cent for the Upper West Region. Five regions (Upper West, Brong Ahafo, Volta, Western and Ashanti) recorded inflation rates above the national average (9.4%). Volta and Ashanti Regions, as well as the Northern and Eastern Regions, recorded the same inflation rate of 9.5 per cent and 9.0 per cent, respectively.

Source: classfmonline.com