Rate Of Inflation Edges Up To 9.5 Per Cent In July
The annual inflation rate rose slightly to 9.5% in July compared to 9.4% in June due to the weak cedi, the Ghana Statistical Service said in Accra on Wednesday.
The increase in July is the fifth consecutive monthly rise.
�This means that the general price level went up by 9.5% over the one year period from July 2011 to July 2012,� Mr Baah Wadieh, Acting Deputy Government Statistician Technica,l said.
The monthly change rate for July 2012 was 0.7% which meant the general price level went up by 0.7% for the one month period between June 2012 and July 2012.
The rate for June 2012 was 1.4%.
Food and non-alcoholic beverages group recorded an average year-on-year inflation rate of 5.5% slightly higher than the rate in June 2012 of 5.4%.
Seven sub-groups in the food and non-alcoholic beverages group recorded inflation rates higher than the group average of 5.5%.
Fish, bread and cereals sub-groups were the major contributors to the July food inflation.
�Inflation in local food products, which stood at 4.9% is lower than that of imported food products at 9.1%,� Mr Wadie said.
Seven sub-groups in the non-food group recorded inflation rates higher than the group averages of 12.0% with clothing and footwear group the highest contributors.
Central Region recorded the highest inflation rate of 11.6% Upper East Region and Upper West Region had the lowest rate of 5.3%.