Consumer Price Index Drops by 0.1 %

17-07-2020

Consumer Price Index Drops by 0.1 %

Ghana’s Consumer Price Index (CPI) for June this year has slightly dropped to 11. 2 per cent from 11.3 per cent recorded last month, the Ghana Statistical Service (GSS) has said.

According to the GSS, the drop was 0.1 percentage points lower than that of May while the monthly inflation rate between May and June is one per cent.

CPI measures changes in the price of a fixed basket of goods and services purchased by households 

Speaking at a press conference in Accra yesterday, the Government Statistician, Samuel Kobina Annim said “even though year-on-year inflation for June is still higher compared to pre-Covid-19 inflation, month-on-month inflation and month-on-month food inflation are lower than previous two months. This indicates that the prices did continue to rise, but not as much as the previous two months”

Mr Annim said food inflation was 13.8 per cent as compared to 15.1 per cent recorded last month while inflation for non-food for June was pegged at 9.2 per cent.

 Within the food sector, he  said four  sub groups  recorded   rates  higher than the  national  inflation stating that the  subgroups  were vegetables 28.8 per cent, fruits and nuts 17.4 per cent, fish, seafood 14.3 per cent and  ready-made food 12.2 per cent.

 On the regional basis, Western has the  highest  food inflation of 21.3  per cent  followed by  Ashanti  with 20.6  per cent  and  Greater Accra  with 13. 9 per cent.

 For non-food sector, two sub groups recorded rates higher than 9.2 per cent. The subgroups were housing, water electricity and Gas 21.3 per cent and food and non-alcoholic beverages 13.8 per cent

For locally produced foods, he said the rate was 13.9per cent while that of imported items was 4.7 per cent

  Mr Annim said the monthly inflation on imported  goods  was 0.7 per cent  while that of  locally produced  goods  was 11 per cent adding that  both percentages were lower  than  corresponding  numbers  of  last month  which  had 0.8  for imported  goods and  2.1 for locally produced  goods.

At the regional level, the Government Statistician said, four regions recorded inflation higher than the national rate.

He said the regions were Greater Accra 15.0 per cent, Western 13.5 per cent, Eastern 12.6 per cent and Ashanti region 11.6 per cent.

Source: https://www.ghanaiantimes.com.gh/consumer-price-index-drops-by-0-1/

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