July inflation plunges to 11.9 percent

Ghana’s inflation for July 2017 dropped to 11.9 percent.

This represents a 0.2 percent reduction from the 12.1 percent recorded in June this year.

The consumer price inflation represents the change over time in the general prices of goods and services that consumers purchase.

The Acting Government Statistician Mr. Baah Wadieh explained that the reduction is because of the drop in inflation for non food categories such as transportation, recreation and culture, among others.

‘Inflation has been easing due to the fact that there has not been any major shock to the economy.

Even though transport remains high, the rate of inflation is easing, recreation remains high the rate is also easing and with other items also the rate of inflation has been going down including housing, water and electricity, so these are all contributing to the decline in the inflation’.

Meanwhile across the regions, the Greater Accra  and Upper West regions recorded the highest inflation  of 12.7 percent while the Upper East region recorded the least inflation rate of 8.6 percent.

By:  Pius Amihere Eduku/citibusinessnews.com/Ghana

Published on 9 August 2017 | 7:01 pm at Source