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Inflation Still 9.5%
 
Posted on: 13-Sep-2012         Source: dailyguideghana.com
 
 
 
There was no change in the rate at which prices of goods and services increases on year-on-year terms for August 2012.

Year-on-year inflation, as recorded by the Ghana Statistical Service (GSS)’s Consumer Price Index (CPI), stood at 9.5 percent in August 2012, the same as 9.5 percent recorded in July 2012.

With the monthly rate for August 2012 recording -0.8 percent, the general price level declined by 0.8 percent between July and August compared to a rise of 0.7 percent between June and July 2012.

Baah Wadie, a Deputy Government Statistician, who launched the August CPI newsletter, said the food and alcoholic beverages group recorded an average year-on-year inflation rate of 4.4 percent, 1.1 percentage points lower than the rate in July 2012 which stood at 5.5 percent .

Mineral water, soft drinks and juices recorded 20.5 percent in the food group followed by coffee, tea and cocoa (14.1 percent); milk cheese and eggs (13.9); meat (10.7 percent); sugar, jam, honey, syrups, chocolate and confectionery (9.1 percent) and also bread and cereals (7.0 percent).

The non-food group recorded a year-on-year inflation rate of 12.5 percent.

Transport recorded the highest rate of 20.6 percent followed by alcoholic beverages, tobacco and narcotics with 16.4 percent.

Education followed at 15.8 percent; miscellaneous goods and services (15.3 percent); clothing and footwear (13.6 percent); furnishings, household equipment, etc (13.6 percent), as well as recreation and culture (12.5 percent).

Inflation was low in the communication group at 1 percent. Health and recreation and culture groups recorded the highest month-on-month price change rate of 1.1 percent.

On regional basis, the year-on-year inflation rate ranged from 6.2 percent in the Upper East and West regions to 11.1 percent in the Central region.

Four regions – Central, Greater Accra, Ashanti and Northern – recorded inflation rates above the national average of 9.5 percent.

By Samuel Boadi