STATISTICAL SERVICE RELEASES INFLATION FOR JULY 2019

The yearonyear inflation rate rose to 9.4 percent in July, 2019 from 9.1 percent in June 2019. The rise of 0.3 percent point was mainly due to nonfood inflation rate.

At a news conference in Accra, today, the Deputy Government Statistician, Mr David Kombat said the monthly change rate for July 2019 was 0.6 percent as compared with 0.8 percent recorded for the Consumer Price Index (CPI) for June 2019.

He noted that the food and nonalcoholic beverages group recorded a yearonyear inflation of 6.6 percent. This he said was 0.1 percentage point lower than the rate recorded in June 2019 while the nonfood group recorded a yearonyear inflation rate of 10.7 percent in July 2019 as compared to 10.3 percent recorded for June 2019.

‘with the nonfood group, the large contribution to inflation were housing, water, electricity, has and other fuels which recorded the highest rise of 3.1 percent points in inflation for the month of July 2019 due to the upward adjustment of electricity, water and LP gas prices by 11.1, 8.0 and 1.9 percent respectively’ he added.

On the food group, Mr Kombat indicated that major drivers were coffee, tea and cocoa, which recorded 17.5 percent, fruits 11.o percent, meat and meat product 8.6 percent and vegetables 8.4 percent among others.

At the regional level, the Deputy Government Statisticians observed that the yearonyear inflation rate ranged from 8.5 percent for Upper East region as compared to 11.1 percent for Upper West region.

He explained that five regions being Upper West, Brong Ahafo, Volta, Western and Ashanti region recorded inflation rates above the national average of 9.4 percent.

Source: Government of Ghana