The average change in the prices of goods and services in the country, measured as inflation, rose to 14.8 per cent in May 2014, the Ghana Statistical Services (GSS) has announced.
The December rate, which, according to the GSS, was the highest since May 2010, was 0.1 percentage points higher than the 14.7 per cent recorded in April 2014.
Subsequently, the monthly rate change for May 2014 was 0.9 per cent, compared with the 1.7 per cent recorded in April 2014.
The government Statistician, Dr Philomena Nyarko, who announced the rate in Accra, said the main drivers for the May rate were rising utility prices and cost of transport during the period under review.
Meanwhile, the food component of the inflation basket recorded a rate of 8.0 per cent, which is 1.0 percentage points higher than the 7.0 per cent recorded in April 2014.
“The year-on-year food inflation rate (8.0 per cent) is two-and-a-half times lower than the non-food inflation rate (20.0 per cent),” she said, adding that the main price drivers for the food inflation were mineral water, soft drinks, fruit juices, coffee, tea, cocoa and other food products.
For the non-food basket, the main price drivers were housing, water, electricity, gas and other fuels, as well as transport.
On the regional front, Greater Accra Region recorded the highest regional year-on-year inflation rate of 16.1 per cent, followed by the Eastern Region with 15.9 per cent, while the Upper West Region recorded the lowest rate of 11.2 per cent.