Inflation slowed further by 0.5 percentage points to 12.1 percent year-on-year in June, relative to the 12.6 percent recorded a month earlier, Ghana Statistical Service (GSS) announced here on Wednesday.

The year-on-year food inflation rate for June was 6.2 percent, which was 0.1 percentage points lower than the 6.3 percent food inflation rate for the previous month.

“The year-on-year non-food inflation rate for June 2017 was 15.1 percent, compared with the 15.8 percent recorded in May 2017,” said Baah Wadieh, Acting Government Statistician.

He added that the year-on-year inflation rate for imported items, 14.1 percent, was 2.9 percentage points higher than that of locally produced items, 11.2 percent.

“For the further drop in inflation for the month of June 2017, you realized that we recorded a decline in both food inflation and non-food inflation, and that is what accounted for the deduction in inflation,” said the statistician.

“This fall is mainly due to the base-drift effect as a result of a higher inflation for food and non-alcoholic beverages in June 2016 than in June 2017; the same goes for the non-food group which recorded a higher inflation in June 2016 than it has recorded in June 2017,” Wadieh explained.


Source: Xinhua/