Inflation Winds Down To 11.9%

Consumer Price Inflation (CPI) for July 2017 recorded 11.9 percent from 12.1 percent recorded in June 2017.

The monthly change rate for July 2017 was 0.7 percent compared to 0.9 percent recorded for June 2017, down by 0.2 percentage point.

According to Baah Wadieh, acting Government Statistician, at a press conference yesterday in Accra, the main price drivers for the July rate included transport, recreation and culture, household goods and services.

He indicated that the July rate of inflation was the lowest recorded since September 2013.

The food and non-alcoholic beverages group recorded year-on-year inflation rate of 7.2 percent, 1.0 percentage point higher than the rate recorded in June.

Transport recorded the highest inflation rate of 22.0 percent followed by recreation and culture with 19.2 percent.

Inflation was lowest in the housing, water, electricity, gas and other fuels subgroup (6.2 percent).

Greater Accra and Upper West Regions recorded the highest year-on-year inflation rate of 12.7 percent, followed by Western and Brong Ahafo Regions with 12.2 percent each, while the Upper East Region recorded the lowest year-on-year inflation of 8.6 percent in July 2017.

A business desk report