14 July 2016

Inflation declines to 18.4 percent in June

inflation declineThe Consumer Price Inflation (CPI) for June, declined marginally to 18.4% from 18.9% in May 2016.

The monthly change rate was 1.3% in June 2016 compared to 1.1% recorded in May this year. According to the Ghana Statistical Service (GSS), food inflation went up to 8.6% in June compared to 8.5% in May 2016.

The non food inflation rate however declined from 25 to 24.1 percent between the one month period. Meanwhile, the inflation rate for imported items increased to 27.1% in June, from the 18.5 percent recorded in May 2016.

Inflation for locally produced items was however 1.8% higher than the imported items in June.

Figures released by the GSS also showed that the Ashanti region recorded the highest combined food and non food inflation rate of 11.1%. This was followed by Greater Accra with an inflation of 9.4%. On the contrary, the Upper East region recorded the lowest combined food and non-food inflation rate of 6.0% for June this year.

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