Inflation Rises To 11.4%

The Ghana Statistical Service (GSS) has announced an increase in the general price level of goods and services for June 2013.

The year-on-year inflation rate, as recorded by the Consumer Price Index (CPI) for the month of June, stood at 11.4 percent compared to 11.1 percent in May 2013.

The monthly change rate for the month also stood at 2.6 percent in relation to the 2.8 percent recorded for May.

According to the CPI, prices of food and non-alcoholic beverages increased by 6.3 percent while alcohol and tobacco recorded an inflation rate of 15.8 percent. 

In the non-food category, communication recorded the lowest inflation of 0.9 percent while housing, water, electricity, gas and other utilities recorded highest inflation of 17.4 percent.  

While clothing and footwear recorded 17 percent, transport, education, hotels and restaurants, health, recreation and culture also recorded 13.1 percent, 16.9 percent, 15.3 percent, 12.4 percent and 15.2 percent respectively in June.  

On regional level, Greater Accra recorded the highest inflation of 13.3 percent in both the food and non-food categories while the Brong-Ahafo region recorded the lowest inflation of 9.7 percent.

Dr.Philomena Nyarko

Acting Government Statistician, Dr Philomena Nyarko, who announced the figures yesterday in Accra, admitted the increase in fuel prices contributed largely to the recent inflation figures.

She predicted that inflation will reduce during the harvest season.  

She also indicated that prices of goods and services in the Upper West and East regions would be recorded separately in subsequent computations.