Ghana inflation rate for June drops to 18.4%

The year-on-year inflation rate drop to 18.4 per cent in June compared to 18.9 per cent in May, Dr Philomena Nyarko, Government Statistician, said on Wednesday.

The drop in the inflation was attributed to decrease of non-food imported items caused by stability in the cedi.

The monthly change rate for June was 1.3 per cent while that of May was 1.1 per cent.

Dr Nyarko said the non-food group recorded a year-on-year inflation rate of 24.0 per cent in June compared to 25.0 recorded in May, while the year-on-year food inflation rate for June was 8.6 per cent compared with the 8.5 per cent recorded in May.

She explained that the main drivers for the non-food inflation rate are transport, housing, electricity, gas and fuels, education and recreation and culture while that of the food inflation include vegetables, oils and fats, fruits, mineral water, soft drinks, fruits and vegetable juices.

At the regional level, Greater Accra and Ashanti regions recorded inflation rates higher than the national average of 18.4 per cent.

The Greater Accra Region recorded the highest inflation rate of 22.4 per cent followed by the Ashanti Region with 20.5 per cent, while the Upper East Region recorded the lowest of 13.8 per cent.

Source: GNA