Ghana Inflation Rate Up to 11.2% in June


Ghana's annual inflation rate accelerated for the sixth consecutive month to 11.2 percent in June, from 10.9 percent in May, due to higher food prices.

Year-on-year, prices of food and non-alcoholic beverages rose 6.4 percent in June, 0.4 percentage points higher than the 6.0 percent recorded in May. Prices of oil and fats recorded the highest increase (up by 11.7 percent), followed by cost of sugar, jam, honey, syrups, chocolate and confectionary (+10.9 percent) and milk, cheese and eggs (+10.8 percent). Cost of fruits recorded the lowest rate of -0.1 percent.

The non-food group, on the other hand, recorded a year-on-year inflation rate of 14.0 percent in June, compared to 13.7 percent in May. Prices of housing, water, electricity, gas and other utilities recorded the highest rate of 18.9 percent, followed by cost of education (18.1 percent), clothing and footwear (16.0 percent) and hotel, cafes and restaurants (14.8 percent). Inflation was lowest in the Communications subgroup (0.4 percent).

On a month-over-month basis, inflation rate slowed to 1.7 percent, from 2.2 percent in May.

Ghana Inflation Rate Up to 11.2% in June


Ghana Statistical Service | Joana Taborda | joana.taborda@tradingeconomics.com
8/15/2013 5:31:10 PM