Increase in electricity and water bills pushed inflation marginally up by 0.03 percent to 9.4 percent in July 2019 but still remained in the single digit bracket.
The monthly change rate for July 2019 was 0.6 percent compared with the 0.8 percent recorded for June 2019.
According to figures from the Ghana Statistical Service, the Food and non-alcoholic beverages group recorded a year-on-year inflation rate of 6.6 percent, whilst the Non-food group recorded a year-on-year inflation rate of 10.7 percent in July 2019, compared to 10.3 percent recorded for June 2019.
“The rise in the rate of inflation was due mainly to the 0.4 percentage points rise in the non-food inflation rate”, the Ghana Statistical Service said.
Six subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 6.6 percent. The subgroups were Coffee, tea and cocoa (17.5 percent), Fruits (11.0 percent), Meat and meat products (8.6 percent), Vegetables (8.4 percent), Sugar, jam, honey, chocolate and confectionery (7.0 percent) and Mineral water, soft drinks, fruit and vegetable juices (6.9 percent).
On the other hand, four subgroups of the non-food group recorded year-on-year inflation rates higher than the group’s average rate of 10.7 percent. They were Clothing and footwear (14.9 percent), Recreation and Culture (14.8 percent), Furnishing, Household Equipment and Routine Maintenance (14.6 percent) and miscellaneous goods and services (11.2 percent).
Inflation was however lowest in the Education subsector, recording 6.4 percent.
The inflation rate for imported items was 11.3 percent in July 2019 compared to 11.2 percent recorded in June 2019.
On the other hand, the inflation rate for locally produced items was however 8.2 percent in July 2019 as against 8.6 percent recorded in June 2019.
The Finder