Annual Inflation Rate ticks up to 9.4 percent in June
7/12/2012 12:30:17 AM -
Accra , July 11, GNA - Annual inflation rate rose for the fourth consecutive month in June up to 9.4 percent compared to 9.3 percent in May, the Ghana Statistical Service said on Wednesday.
Addressing a press conference to announce the rate, Mr Kofi Agyeman-Duah, Acting Deputy Government Statistician, said the rate was likely to fall with the start of the harvest season in line with previous trends.
"All things being equal we expect inflation to start going down after June,' he said.
Monthly inflation, however, dipped to 1.4 percent in June, which is 0.6 percentage point lower than the 2 percent in May.
The non-food inflation rate exerted much influence on the overall rate with transport and clothing and footwear major contributors.
The year-on-year non-food inflation rate of 11.9 per cent was more than twice that of the food inflation rate of 5.4 per cent.
The major contributors to the food inflation rate of 5.4% were Bread and Cereals, Fish and Meat.
Central Region recorded the highest inflation rate of 12.2 percent while Upper East & West regions had the lowest rate of 5.1 percent.
Three regions Central, Ashanti and Greater Accra recorded inflation rates above the national average of 9.4 percent.