Ghana's May inflation rate falls to yr/yr 9.4 pct

02:33 p.m Jun 22, 1999 Eastern

ACCRA, June 22 (Reuters) - Consumer prices in Ghana rose by 1.9 percent in May from April while the year-on-year inflation rate fell to 9.4 percent from 10.2 percent, the government statistical service said.

 CONSUMER PRICES              May        April    May 98 Change on month              +1.9        +2.5     +2.7 Change on year               +9.4       +10.2      n/a Index (base Sept 1997-100)  130.2       127.8    119.0 

NOTE - The statistical service said the price of food and beverages rose by 2.3 per cent in May compared to April. This component has a weight of 52 per cent in the overall index.

The statistical service said the May inflation figure was the lowest since October 1985. The government's official target is 9.0 per cent for the end of 1999.

Government Statistician Oti Boateng, who heads the service, cautioned that a price increase of 15 per cent for petroleum products at the beginning of June could have an adverse effect on the inflation trend.