policy rate

Inflation drops to 11.9% in July

Inflation has dropped for the month of July to 11.9 percent from 12.1 percent recorded in June

The  drop is the lowest since September 2013.

Speaking at a news conference on Wednesday, the acting government statistician Baah Wadie said the period under scrutiny did not experience any economic shock thus the drop.

He added that the dropping of inflation on non-food was the main factor that “kept the inflation at the level that it is.”

He said the main price drivers for the down food inflation rate were transport, household equipment, clothing, footwear, health, miscellaneous goods and services.