Africa > West Africa > Ghana > Ghana inflation rate falls to 12.6% in May

Ghana: Ghana inflation rate falls to 12.6% in May

2017/06/15

The annual inflation rate fell to 12.6 % in May from the 13.0 % recorded in April, due to general decline in prices for both the food and non-food groups.

The rate of inflation is the lowest since December 2013.

The monthly change rate for May was 0.7 % compared to the 1.6 % recorded for April.

Mr Baah Wadieh, Acting Government Statistician, said both the food and non-alcoholic beverages group and the Non-Food group recorded lower rates during the month.

The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 6.3 %, down 0.4 % points compared with 6.7 % in April.

The price drivers for the food inflation rate were fish and sea food and meat and meat products.

The year-on-year non-food inflation rate for May was 15.8 % compared with the 16.3 % for April 2017.

The major price drivers for the non-food inflation rate, include transport, recreation and culture, furnishings, household equipment and routine maintenance.

The inflation rate for imported items, which stood at 14.5 %, was 2.7 % points higher than that of locally produced items with inflation rate of 11.8 %.

Five Regions, Better Accra, Upper West, Ashanti, Brong Ahafo and Western recorded inflation rates higher than the national average of 12.6 %.

The Better Accra Region recorded the highest year-on-year inflation rate of 13.6 %, followed by the Upper West Region with 13.5 % while the Upper East Region recorded the lowest of 9.1 %.

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