Tuesday 24 April 2018

Ghana: May inflation dips marginally

Ghana: May inflation dips marginally
(APA 06/15/17)

Ghana’s annual inflation dropped marginally to 12.6 percent in May 2017, against 13 percent recorded the previous month.

Inflation is measured by the change over time in the general price level of goods and services that households acquire for the purposes of consumption.

The Acting Government Statistician, Mr. Baah Wadieh, told a press briefing on Wednesday that this represents 0.4 percent decrease over the 13 percent recorded in April 2017.

Wadieh explained that the marginal decline in the prices of fuel helped to reduce the rate of inflation between April and May.

“There was a general decline in the prices for almost all the major subgroups. A significant driver is the price of fuel which recorded a slight decline in price and inflation and that might have triggered so many of the groups to reduce the inflation rate,” he added.

According to the Ghana Statistical Service, food inflation for May 2017 comprising categories such as cereals, vegetables, fish and meat was 6.3 percent.

Also, inflation for non-food categories such as transport, education and health was 15.8 percent down from the 16.3 percent witnessed in April.

“The drivers are mainly transport, recreation and culture, furnishings, household equipment and routine maintenance, clothing and maintenance and miscellaneous goods and services,” Mr. Wadieh explained.

Across the regions, the Greater Accra region recorded the highest inflation of 13.6 percent while the Upper East region recorded the lowest inflation of 9.1 percent.

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