NewsWest AfricaGhana's inflation unchanged at 9.5%

Sat,18Nov2017

Posted on Thursday, 13 September 2012 16:51

Ghana's inflation unchanged at 9.5%

By Lawrence Quartey

Map of GhanaGhana's annual inflation rate was unchanged at 9.5% in August, the Ghana Statistical Service announced on Wednesday. 



 

Inflation, rate at which prices increase, rose five consecutive times up to July.

The consumer price index measures changes over time in the general price level of goods and services that households acquire for the purpose of consumption with reference to the price level in 2002, the base year which has an index of 100.

The monthly change rate for August was -0.8% that is the general price level declined by 0.8% between July compared to a rise of 0.7% between June and July 2012.

Food and non-alcoholic beverages group recorded an average year-on-year inflation of 4.4%, 1.1 percentage points lower than the rate in July 2012 (5.5%).

The non-food group recorded a year-on-year inflation rate of 12.55 with transport recording the highest of 20.6% followed by alcoholic beverages, tobacco and narcotics with 16.4%. Inflation was lowest in the communication group below 1%.



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