Audio By Carbonatix
Ghana recorded inflation for June 2019 at 9.1 per cent as compared to 9.4 per cent in May 2019 with the Upper West, Brong Ahafo, Western and Ashanti regions recording highest levels of inflation.
Deputy Government statistician, Araba Forson, has been detailing the main price drivers of food and non-fool inflation at a press briefing Wednesday.
According to her, the “main price drivers for the non-food inflation rate were clothing and footwear (15.2 per cent), recreation and culture (15 per cent), furnishing, household equipment and routine maintenance (14.6 per cent) and miscellaneous goods and service (11.3 per cent)
Upper West recorded the highest general inflation of 11.1 per cent followed by the Brong Ahafo Region (10.6 per cent) while the Upper East region recorded the lowest year-on-year inflation rate of 8.3 per cent.
Within the non-food group, the transport sector was the highest and the only sector to record a fall in the inflation rate by 5.6 percentage points in June 2019.
This was due to base-drift effect caused by the 10 per cent upward adjustment in the price of transport fares in June 2018 which in-turn caused the Transport sector inflation rate rise by 5.1 per cent at that time as opposed to this year.
Factors contributing to the fall in the rate of inflation
Several factors contributors to the fall in the rate of inflation in June 2019.
According to the Ghana Statistical Service (GSS), the major ones include favourable weather patterns and conditions, government policy on planting for food and jobs, exchange rate stability beginning of the harvest season and others, in any given month, the figure is determined by the balance between the upward and downward price movements of the range of goods included in tax.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
‘It should have been negotiated’ – Dafeamekpor on lawyers’ dispute with CJ over vacation hearings
10 minutes -
Ablakwa announces special bonus for passport staff after GSS ranks service among least corrupt institutions
19 minutes -
Mövenpick Ambassador Hotel will deepen community engagement as it marks 15 years – General Manager
47 minutes -
Mad rush for GH¢15 KFC deal as massive queues hit branches nationwide
56 minutes -
Firefighters contain raging fire at Labadi Wireless
1 hour -
Photos: Police engage religious leaders at National Police Headquarters
1 hour -
Gov’t invests GH¢443m in Free Primary Health Care – Dr Asare Bampoe
2 hours -
ECG announces power outages in parts of Accra West and Central regions
2 hours -
Otumfuo calls for urgent action to end maternal deaths in Ghana
2 hours -
Prioritise Bawumia’s interest and vote on merit – NPP elder urges delegates
2 hours -
Jason Arday death ‘tragedy on so many levels’ says PM
3 hours -
Rotary Club donates phototherapy machine to Ussher Hospital
3 hours -
Analysis: Jason Arday’s death will send shockwaves through a divided academia
4 hours -
CJ’s vacation warrants not limited to politically sensitive cases – Victoria Bright
4 hours -
Parts of Accra to experience power interruption on Sunday for emergency GRIDCo tower restoration
4 hours