Inflation Up To 17.9%

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Inflation for the month of July 2015 increased to 17.9 percent from the 17.1 percent recorded in June 2015.

The monthly change rate for April is 2.3 percent, while that of June was 1.8 percent.

Food inflation rose to 7.6 percent, compared with the 7.4 percent recorded for June 2015 where as non food inflation recorded 24.6 percent moving up 1.0 percent from that of June 2015 which was 23.6 percent.

The main price drivers for non food inflation were housing, water, electricity, gas and other fuels recording the highest inflation rate of 27.1 percent, but communication recorded the lowest in the communication subgroup recording 13.1 percent with transport recording inflation rate of 25.7 percent and clothing and foot wear 24.9 percent in the non-food group.

The consumer price index measures the change over time in the general price levels of goods and service that households require for the purpose of consumption.

According to the Chief Executive of the Ghana Statistical Service Dr. Philomena Nyarko the current inflation is high due to the utility price adjustments.

At the regional level the year on year inflation rate ranged from 14.3 percent in the Northern region to 19.8 percent in the Central region.
Four regions Central, Ashanti, Volta and Upper East recorded inflation rates above the national average of 17.9 percent.

The Northern region recorded the lowest inflation rate of 14.3 percent, while the Central region recorded the highest regional inflation rate of 19.8 percent.

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