June Inflation rate hits 10%

By Maame Aba Afful
June Inflation rate hits 10%
June Inflation rate hits 10%

The Ghana Statistical Service has disclosed that the inflation rate for the month of June 2018 is 10 percent, an increase from the 9.8 percent recorded in May 2018.

 The 10 percent in June 2018 is the percentage change in the Consumer Price Index (CPI) over the twelve-month period, from June 2017 to June 2018.

The monthly change rate for June 2018 was 1 percent same as the rate recorded in May 2018.

The Food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.3 percent. This is 0.3 percentage point lower than the 7.6 percent recorded in May 2018. Six subgroups of the food and non-alcoholic beverages group recorded an inflation rate higher than the group’s average rate of 7.3 percent.
The subgroups were Coffee, tea and cocoa (10.3%), Fruits (9.6%), Meat and meat products (8.7%), Mineral water, soft drinks, fruit and vegetable juices (8.4%), Vegetables (8.3)% and Food products (7.7%).

The non-food group recorded a year-on-year inflation rate of 11.2 percent in June 2018, compared to the rate of 10.9 percent recorded in May 2018. Five subgroups of the non-food group recorded year-on-year inflation rates higher than the group’s average rate of 11.2 percent.

Clothing and footwear (16.1%), Transport (15.5%), Recreation and Culture (13.8%), Furnishing, Household Equipment and Routine Maintenance (13.3%) and Miscellaneous goods and services (12.7%). Inflation was lowest in the Housing, Water, Electricity, Gas and Others Fuels subgroup (3.4%).

At the regional level, the year-on-year inflation rate ranged from 8.1 percent in the Upper East Region to 11.9 percent in Upper West region. Four regions (Upper West, Brong Ahafo, Western and Ashanti) recorded inflation rates above the national average of 10 percent and Northern region recorded the same inflation rate as the national average of 10 percent.

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