July Inflation Hits 11.8%

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Inflation for the month of July increased marginally to 11.8% from a rate of 11.6% recorded in June.

July recorded a monthly inflation rate of 1.3%, a reduction from the 1.5% recorded in June.

In July, food inflation group maintained a rate of 7.3% same as recorded in June.

The non-food group however went up to 15.4%, marginally increasing from 15.1% recorded for the month of June.

Clothing and footwear recorded the highest inflation of 18.1% while communications recorded the lowest rate of 1.3%.

Brisk economic activities in the Western region were reported to have contributed significantly to the region recording the highest inflation of 15%.

The Upper East region however recorded the lowest inflation of 4.6%.

Government Statistician, Philemona Nyarko told Citi Business News, inflation is expected to dwindle in the coming months as Ghana gradually draws closer to a harvest season.

“Under normal circumstances, you would expect a decline and then an increase. The decline will be because of the harvest period and an increase because of the celebrations in December. That is the trend that we expect, all things being equal, but we cannot be certain.”

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