The annual rate of inflation rate was unchanged at 9.5% in August, the Ghana Statistical Service announced at its monthly review of the rate.

The inflation rate rose five consecutive times up to July the previous month.

The rate of inflation for August 2012 is the percentage change in the Consumer price Index (CPI) over the twelve month period from August 2011 (373.9) and August 2012 (409.2).

The CPI measures changes over time in the general price level of goods and services that households acquire for the purpose of consumption with reference to the price level in 2002, the base year, which has an index of 100.

The monthly change rate for August 2012 was -0.8% that is, the general price level declined by 0.8% between July compared to a rise of 0.7% between June and July 2012.

Food and non-alcoholic beverages group recorded an average year-on-year inflation of 4.4%, 1.1 percentage points lower than the rate in July 2012 (5.5%).

The non-food group recorded a year-on-year inflation rate of 12.55 with transport recording the highest of 20.6% followed by alcoholic beverages, tobacco and narcotics with 16.4%. Inflation was lowest in the communication group below 1%.


Below are the inflation rates for 2012

INFLATION RATES for 2012

%

January - 8.70
February - 8.60
March - 8.80
April - 9.10
May - 9.30
June - 9.40
July - 9.50


GBC/GNA