Ghana inflation rate for June 2015 goes up to 17.1%
The year on year inflation rate for June 2015 increased to 17.1 per cent, from 16.9 per cent in May 2015 representing an increase of 0.2 per cent recorded in May 2015.
Dr Philomena Nyarko, Government Statistician who announced this on Wednesday at the June 2015 Commodity price index in Accra said 1.8 per cent was the monthly change rate for June 2015 as compared to 1.0 per cent recorded for May 2015.
The food and non-alcoholic beverages group recorded a year-on year inflation rate of 7.4 per cent which is 0.1 per cent higher than the 7.3 per cent recorded in May 2015.
Seven subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group average rate of 7.4 per cent.
The non-food group recorded a year-on year inflation of 23.6 per cent in June 2015, compared to the 23.4 per cent recorded for May 2015, which is more than three times the food inflation rate.
Four sub-groups recorded a year-on-year inflation rate higher than the group’s average of 23.6 per cent Dr Nyarko said.
According to her, the main price drivers for non-food inflation rate were, transport, which recorded the highest inflation rate of 25.5 per cent followed by housing, water, electricity, gas and other fuels which had 24.8 per cent and education which recorded 24.6 per cent.
Clothing and footwear indicated 24.3 per cent while communication was the lowest in the sub groups.
The price drivers for the food inflation rate were coffee, tea and cocoa with 17.1 per cent, mineral water, soft drinks, fruit and vegetable juices had 16.2 per cent, sugar, jam, honey, chocolate and confectionery was 15.2 per cent.
Food products reached 14.9 per cent, meat and meat products presented 13.9 per cent, milk, cheese and eggs recorded 12.3 per cent whilst cereals and cereal products recorded 8.3 per cent.
On regional differences, Dr Nyarko said the inflation rate ranged from 14.8 per cent in the Upper West and Northern Regions to 19.5 per cent as well as the Central Region, adding that Central, Ashanti, Volta and Upper East Regions recorded inflation rates above the national average of 17.1 per cent.
The Central Region recorded the highest year-on-year inflation rate of 19.5 per cent while Upper West and Northern Regions recorded the lowest of 14.8 per cent.
She said the year on year inflation rate for imported items, which recorded 21.2 per cent for June 2015 was about 1.4 per cent times higher than that for locally produced items which had 15.5 per cent.
Source: GNA