Ghana's Inflation rate rises to 9.4% in June

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Jul 12, 2012 at 10:12am

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Inflation rate rose for the fourth consecutive month in June up to 9.4 percent compared to 9.3 percent in May, the Ghana Statistical Service said on Wednesday.

Addressing a press conference to announce the rate, Mr Kofi Agyeman-Duah, Acting Deputy Governmnet Statistician, said the rate was likely to fall with the start of the harvest season in line with previous trends.

"All things being equal we expect inflation to start going down after June,” he said.

Monthly inflation, however, dipped to 1.4 percent in June, which is 0.6 percentage point lower than the 2 percent in May.

The non-food inflation rate exerted much influence on the overall rate with transport, clothing and footwear being major contributors.

The year-on-year non-food inflation rate of 11.9 per cent was more than twice that of the food inflation rate of 5.4 per cent.

The major contributors to the food inflation rate of 5.4% were Bread and Cereals, Fish and Meat.

Central Region recorded the highest inflation rate of 12.2 percent while Upper East & West regions had the lowest rate of 5.1 percent.

Three regions, Central, Ashanti and Greater Accra recorded inflation rates above the national average of 9.4 percent.

Below are Inflation Rates Since 2011

INFLATION RATES for 2011
%
January - 9.08
February - 9.16
March - 9.13
April - 9.02
May - 8.90
June - 8.59
July - 8.39
August - 8.41
September - 8.40
October - 8.60
November - 8.55
December - 8.58

INFLATION RATES for 2012

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

GBC/GNA

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