The Consumer Price Index (Inflation) rate for June 2017 dropped to 12.1percent, down by 0.5 percentage point from the 12.6percent recorded in May 2017. This is the lowest CPI recorded since December 2013.
The monthly change rate in June 2017 was 0.9percent whilst that of May 2017 was 0.7percent.
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The year-on-year non-food inflation rate for June 2017 was 15.1percent compared with the 15.8percent recorded in May 2017.
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Speaking at a news conference today (Wednesday), the Acting Government Statistician at Ghana Statistical Service, Baah Wadieh, noted that, “the year on year food inflation rate for June 2017 was 6.2percent, compared with 6.3percent recorded in May 2017.
In June 2017, the year on year inflation rate for imported items (14.1%) was 2.9 percentage points higher than that of locally produced items (11.2%)".
According to him, "the main price drivers for the non-food inflation rate were transport (23.1%), Recreation and Culture (20.8%), Furniture, Household Equipment and routine maintenance (20.6%), Clothing and Footwear (16.6%), Miscellaneous goods and services (15.4%) and Health (14.3%).
The price drivers for the food inflation rate were Fish and Sea Food (12.7%) and Meat and Meat Products (9.5%)".
On Regional Inflation, Mr. Wadieh said, five regions (Upper West, Greater Accra, Brong Ahafo, Ashanti and Western) recorded inflation rates higher than the national average of 12.1%.
"The Upper West Region recorded the highest year on year inflation rate of 13.1 percent followed by Greater Accra with 13.0 percent while the Upper East Region recorded the lowest (8.6%)".
Source:GBC