July inflation rises to 11.8 per cent

BY: Arku Jasmine

Dr Philomena Nyarko, Government StatisticianGhana’s inflation rate rose to 11.8 per cent in July, compared with 11.6 per cent in June, Dr Philomena Nyarko, Government Statistician, said on Wednesday.

Dr Nyarko said the July 2013 inflation main drivers were clothing and footwear, which were largely influenced by the cedi exchange rate.

Food inflation was unchanged at 7.3 per cent in July, same as in June while the non-food inflation ticked slightly higher at 15.4 per cent from 15.1 percent.

Clothing and footwear contributed 18.1 per cent to the rate of inflation while miscellaneous goods and services added 17.7 per cent.

Housing, water, electricity, gas and other utilities recorded inflation of 16.6 per cent whilst the communications sub-group had the lowest inflation rate of 1.3 per cent.

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At the regional level, the year-on-year inflation rate ranged from 4.6 per cent in the Upper East Region to 15 per cent in the Western Region.

Four regions namely Western, Ashanti, Eastern and Volta recorded inflation rate above the national average of 11.8 per cent.

Source: GNA/Ghana