Inflation has begun rising again as the rate for the month of July 2021 recorded more than one percentage points increase to hit 9%.

According to the Ghana Statistical Service, the increment was largely influenced by the increase in food commodities during the period. 

However, it is within the Bank of Ghana’s target of 8%+/-2%.

Announcing the new rate, Government Statistician, Professor Samuel Kobina Annim explained that Transport (14.3%) and Housing (14.1%) were also major contributing factors to the rise in inflation, beside food commodities. However, transport contribution has slowed from 18.1% last month to 14.3% in July 2021.

The monthly change rate for July 2021 was 1.63%.

While, the Food and Non-alcoholic beverages recorded a year-on-year inflation rate of 9.5 % for July 2021, the Non-Food group recorded a year-on-year inflation rate of 8.6% in July 2021.

Inflation for locally produced items was 9.4%, whilst inflation for imported items was 7.1%.

10 divisions recorded higher rate of inflation relative to same period last year.

Regional inflation

Meanwhile, the Greater Accra Region's consistent record of having the highest inflation rate for more than a year now has been broken as Northern and Upper West regions recorded the highest overall inflation rates of 13.5% and 13.8% respectively.

Eastern region registered the lowest inflation rate of 3%.

Four regions recorded inflation rates above the national average of 9.0%.