Relative to the 2.3 percent recorded in July 2015. the month-on-month inflation rate in August 2015 also slid to -0.7 percent.

inflation
inflation

Government Statistician Philomena Nyarko told the media that the food inflation for the month under review inched up by 0.1 percentage point to 7.7 percent, compared to the 7.6 percent recorded for the previous month.
“The non-food inflation rate for August 2015 was 23.4 percent, compared to 24.6 percent recorded in July 2015,” she added.

While inflation rate for imported items was 18.1 percent in August 2015, compared with 21.2 percent in July 2015.

For non-food inflation, the main price driers are recreation and culture (25.8 percent), education (25.6 percent), transport (25.3 percent) and clothing and footwear (25.1 percent).

The rest were furnishings, household equipment and routine maintenance (24.9 percent); and housing, water, electricity, gas and other fuels (23.5 percent).

While usually the harvest season commences in August and September, with the glut forcing down food prices to counter-balance the rise in non-food, lower harvests this year due to draught might see food prices shooting up. Enditem

Source: Xinhua

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