[ 2012-08-15 ]

Rate of inflation edges up to 9.5 per cent in July
Accra, Aug. 15, GNA - The annual inflation rate
rose slightly to 9.5% in July compared to 9.4% in
June due to the weak cedi, the Ghana Statistical
Service said in Accra on Wednesday.

The increase in July is the fifth consecutive
monthly rise.

“This means that the general price level went up
by 9.5% over the one year period from July 2011 to
July 2012,” Mr Baah Wadieh, Acting Deputy
Government Statistician Technica,l said.

The monthly change rate for July 2012 was 0.7%
which meant the general price level went up by
0.7% for the one month period between June 2012
and July 2012.

The rate for June 2012 was 1.4%.
Food and non-alcoholic beverages group recorded an
average year-on-year inflation rate of 5.5%
slightly higher than the rate in June 2012 of
5.4%.

Seven sub-groups in the food and non-alcoholic
beverages group recorded inflation rates higher
than the group average of 5.5%.

Fish, bread and cereals sub-groups were the major
contributors to the July food inflation.

“Inflation in local food products, which stood at
4.9% is lower than that of imported food products
at 9.1%,” Mr Wadie said.

Seven sub-groups in the non-food group recorded
inflation rates higher than the group averages of
12.0% with clothing and footwear group the highest
contributors.

Central Region recorded the highest inflation rate
of 11.6% Upper East Region and Upper West Region
had the lowest rate of 5.3%.

Source - GNA

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