Ghana records its second lowest inflation rate since 2013

desmond frimpong

June 14, 2018 3:02 PM

The Consumer Price Inflation, measures the average change over time, in the general prices of goods and services.

Latest figures from the Ghana Statistical Service (GSS) has revealed a 0.2% increase in the country’s inflation from 9.6 per cent in April to 9.8% in May.

This means prices for goods and services for this period saw an increase. In May 2018 monthly change rate was 1.0% compared to 0.9% recorded in April 2018.

The figure represents the second lowest inflation rate recorded since 2013.

Acting Government Statistician, Baah Wadieh said the marginal increase is as a result of the combined rise in the rate of inflation of some food inflation subgroups, and some non-food inflation subgroups.

He explained that the food inflation subgroups included items like coffee, tea and cocoa, fruits, meat and meat products, while the non-food inflation subgroups captured items like clothing and footwear, recreation and culture, furnishings, household equipment.

Providing some figures, Mr Baah Wadieh stated that “The food inflation rate for May 2018 was 7.6%, representing a 0.2 % increase when compared with the 7.4% recorded in April 2018”.

He added that “the non-food inflation rate for May 2018, however, was 10.9%, representing a 0.3 % increase when compared with the 10.6% recorded in April 2018.”

desmond frimpong