Inflation for the month of July fell from 10 percent to 9.6 %. This represents a 0.4 percentage decrease.
Inflation measures the change in the general price level of goods and services over time.
The acting Government Statistician, Baah Wadieh while speaking at a press conference, said the drop was due to the food component in the inflation basket.
Mr. Baah Wadieh said, the food and non-alcoholic beverages group recorded a year on year inflation rate of 7.4 percent.
He explained that six groups under the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average.
He said, the non-food group recorded a year on year inflation rate of 10.7 percent in July 2018 compared to the 11.2 per cent recorded for June 2018. Five subgroups recorded year on year inflation rates higher than the group’s average rate of 10.7 percent.
He added, clothing and Footwear recorded the highest inflation rate of 15.4 percent followed by transport with 15 percent, Recreation and culture with 13.4 percent, Furnishing, households equipment and routine maintenance with 12.5 percent and Miscellaneous goods and services with 12 %.
Mr. Wadieh pointed out that inflation was lowest in the housing, water, electricity, Gas and other fuels subgroup.
Copyright © 2019 Ghanalive.TV. All Rights Reserved.