NewsWest AfricaGhana's Inflation up at 9.3 per cent in May


Posted on Thursday, 14 June 2012 10:37

Ghana's Inflation up at 9.3 per cent in May

By Lawrence Quartey

Ghana's annual inflation rate for May 2012 rose marginally to 9.3 per cent from 9.1 per cent in April, the government announced Wednesday.

Map of Ghana"The monthly rate has been increasing since March 2012 led by non-food inflation, which is more than two and half times higher than the food group," the Acting Government Statistician, Dr Philomena Nyarko said.

The monthly change rate for May was 2.0 percent which means the general price level went up by 2.0 percent for the one month period between April and May. The rate for April was 1.6 percent.

The non-food group recorded an average rate of 11.9 percent while the food group average stood at 5.0 percent.

Six sub groups in the non-food basket recorded year-on-year inflation rates above the group's average rate with transport recoding the highest rate of 20.1 per cent.

Alcoholic beverages, tobacco and narcotics shot up to 16.5 percent.

The main contributors to the non-food inflation of 11.9 percent were clothing and footwear, transport, and furnishings, household equipment.

On the other hand, local food products were responsible for the low inflation in the food and non-alcoholic beverages group.

Bread, cereals and fish sub-groups were the major contributors to the food inflation rate of 5.0 per cent.

Last Updated on Thursday, 14 June 2012 12:05

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