Inflation for the month of July rose to 17.9 per cent, 2.3 percentage points higher than the June 2015 rate of 17.1 per cent.
The monthly change rate was 2.3 per cent, compared to the 1.8 per cent recorded in June 2015.
Inflation, which is measured by the Consumer Price Index (CPI), looks at the changeover time in the general price level of goods and services that households acquire for the purpose of consumption.
Addressing a press conference in Accra, the Government Statistician, Dr Philomena Nyarkoh, said the increase was attributable to the combined rise in the rate of the food and the non-food components of the inflation basket.
She said the food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.6 per cent, a 0.2 percentage point higher than the 7.4 per cent recorded in June 2015.
“The main price drivers for the food inflation rate were mineral water, soft drinks, fruits and vegetables, recording 14.5 per cent, with coffee, tea and cocoa recording 14.3 per cent, while food products recorded 13.9 per cent.
“Sugar, jam, honey, chocolate and confectioneries also recorded 13.8 per cent, while meat and meat products recorded 11.6 per cent, with milk, cheese and eggs recording 9.6 per cent,” she added.
She said the non-food group recorded a year-on-year inflation rate of 24.6 per cent in July 2015, compared to 23.6 per cent recorded in June 2015, with housing, water, electricity, gas and other fuels, being the main drivers of the non-food group, recording an inflation rate of 27.1 per cent, while clothing and footwear, furnishings, household equipment and routine maintenance all recorded the lowest inflation of 24.9 per cent.
The year-on-year inflation rate for imported items was 21.2 per cent for July 2015, which was 1.2 times that for locally produced items of 17 per cent.
At the regional level, the Central, Ashanti, Volta, and Upper East regions recorded inflation rates higher than the national average of 17.9 per cent.
The Central Region recorded the highest year-on-year inflation rate of 19.8 per cent, while the Northern Region recorded the lowest of 14.3 per cent.