Inflation rate for May hits 18.9%

15 June 2016 at 12:24

The Ghana Statistical service puts this down to pressure from price hikes in the costs of transport, housing, water, electricity and education.

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The rate of increase in prices of goods and services, identified as the rate of inflation, has increased to 18.9%, representing a 0.2% increase in the rate for April, 2016 which was 18.7%.

May’s monthly change rate was 1.1%

READ MORE: Inflation in Ghana

The Consumer Price Index-CPI is the change in the general price levels of goods and services purchased and consumed by households.

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The base year of the CPI is 2012 with an index of 100. The CPI measures two components grouped under food and non-food components.

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