Inflation inches up in June to 20.74

Accra, July 9, GNA - Ghana's annual inflation rate rose marginally to 20.74 per cent in June up from 20.06 percent in May, the Ghana Statistical Service said on Thursday.

The increase is 0.68 over the annual inflation rate of 20.06 per cent registered in May and reversed last month's slight drop. Mr Magnus Ebo Duncan, Head of Economic Statistics Division of the Ghana Statistical Service, told the GNA that the slight rise was on account of the recent increase in fuel prices.

"The cost of transport contributed largely to the increase. This may be the negative effect of the last adjustment in petroleum prices," he said.

The non-food component of the consumer index contributed 24.66 per cent to the inflation rate with fuel, clothing and health the biggest contributors.

The food component of the consumer price index stood at 15.54 per cent.

He expressed the hope that with availability of more foodstuffs on the market the annual rate of inflation might come down.