Saturday, 21 September

May inflation drops to 9.4%

Business
The Inflation rate for May 2019 is 9.4 per cent, a 1 percentage point drop from the 9.5 per cent rate recorded in April 2019, the Ghana Statistical Service (GSS) has announced on Wednesday, 12 June 2019.

The Food and non-alcoholic beverages group recorded a year-on-year inflation rate of 6.7 per cent. This is a 1.1 percentage point lower than the rate recorded in April 2019.

Five subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 6.7 per cent.

The non-food group recorded a year-on-year inflation rate of 10.6 per cent in May 2019, compared to 10.4% recorded for April 2019.

Four subgroups recorded year-on-year inflation rates higher than the group’s average rate of 10.6 per cent.

Clothing and footwear, recreation and culture recorded the highest inflation rate of 15.0 per cent, followed by furnishings, household equipment and routine maintenance with 14.5%, and transport with 12.5%. Inflation was lowest in the communication subsector with 6.1 per cent.

At the regional level, the year-on-year inflation rate ranged from 8.0 per cent for the Upper East Region to 11.1 per cent for the Upper West Region. Four regions (Upper West, Brong Ahafo, Western and Ashanti) recorded inflation rates above the national average and Greater Accra and Eastern regions recorded the same inflation rate of 9.1 per cent.

Source: Ghana/ClassFMonline.com/91.3FM

Source: Laud Nartey