[ 2016-08-10 ]

Inflation down to 16.7%
The Ghana Statistical Service (GSS) has released
the inflation rate for July 2016 with Consumer
Price Inflation (CPI) declining to 16.7 per cent
from 18.4 per cent in June 2016.

The monthly change rate was 0.9 per cent for July
2016 compared to 1.3 per cent recorded in June
this year.

According to the figures released on Wednesday
August 10, food inflation was 8.6 per cent in
July, same as in May 2016.

Meanwhile, the inflation rate for imported items
decreased to 15.2 per cent in July 2016, from 17.3
per cent recorded in June 2016.

The main price drivers for the non-food inflation
rate were education (35.4 per cent) recreation and
culture (28.3 per cent), transport (25.4 per cent)
housing, water, electricity, gas and other fuels
(25.4 per cent) clothing and footwear (24.3 per
cent) and furnishing household equipment and
routine maintenance (23.0 per cent).

Greater Accra and Ashanti regions recorded the
highest inflation rate, higher than the national
average of 16.7 per cent. Accra recorded the
highest inflation of 21.3 per cent, followed by
Ashanti region with 18.0 per cent, with the Upper
East region recording the least inflation rate of
10.0 per cent for July 2016.

Source - classfmonline.com

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