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July 11, 2018 | Business & Finance

Inflation Rate For June Hits 10%

JoyBusiness | JAD
Inflation Rate For June Hits 10%

The inflation rate for June 2018 rises to10 per cent as a result of increases in prices of non-food items in the country.

This figure is an increase of 0.2 per cent as compared to the 9.8% recorded in May, 2018.

According to the government Statistician Dr Baah Wadieh, prices of imported commodities continue to record a price increase for the last three months.

Food and non-food inflation
The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.3 per cent. This is 0.3 percentage point lower than the rate recorded in May 2018.

The non-food group recorded a year-on-year inflation rate of 11.2% in June 2018, compared to the 10.9 per cent recorded for May 2018. Five subgroups recorded year-on-year inflation rates higher than the group’s average rate of 11.2%.

Clothing and footwear recorded the highest inflation rate of 16.1% followed by Transport with 15.5%, Recreational and culture with 13.8%, furnishings, household equipment and routine maintenance with 13.3% and Miscellaneous goods and services with 12.7%

Inflation was lowest in the Housing, Water, Electricity, Gas and other fuel subgroups (3.4%).

Regional breakdown
Four regions – Brong Ahafo, Upper West, Western and Ashanti recorded inflation rates higher than the national average of 10%.

Upper West region recorded the inflation of 11.9% followed by the Brong Ahafo region with 10.9% while the Upper East region recorded the lowest inflation of 8.1%

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