Ghana inflation hits 4-year high


Ghana Cedis

from MASAHUDU KUNATEH in Accra, Ghana
ACCRA – GHANA’S inflation rate has risen to 15,9 percent, reaching a four-year high.

The rate rose up from 15,3 percent from July, the highest recorded since January 2010.

Officials of the Ghana Statistical Service (GSS) attributed the increase to rising prices of housing, water, electricity and other fuels in the non-food component.

According to the service, a price change in the non-food items was the
driving force for the rise in the inflation rate.

Deputy Government Statistician, Baah Wadieh, explained to journalists in Accra that the non-food group inflation increased from 23,1 percent to 24 percent driven by housing, water, electricity and other fuels with an inflation rate of 61,7 percent.

Inflation for imported items hit a rate of 21,6 percent while the locally produced items recorded a rate 13,8 percent.

The food inflation rate increased from 5 percent recorded in July to 5,1 percent.

The group was dominated by the mineral water and soft drinks subgroup
which recorded an inflation rate of 22,1 percent.

The monthly change rate in August 2014 was -0,2 percent compared to the 16 percent recorded in July.

He said the year-on-year non-food inflation rate for August 2014 was 24 percent compared to 23,1 percent recorded for July 2014.

“The year-on-year non-food inflation rate is more than four and half times higher than the food inflation rate,” Wadieh said.

The Central Region recorded the highest regional year-on-year inflation rate with 20,4 percent while the Upper West Region recorded the lowest with 12,3 percent.

The inflation rate for Greater Accra Region was the same as the national average of 15,9 percent.

– CAJ News






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Posted by on Sep 11 2014. Filed under Featured, Finance, Finance & Banking. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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