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Business News of Wednesday, 9 August 2017


Inflation declines to 11.9% for July

Annual inflation rate for July 2017 recorded 11.9 percent, a reduction from the previous rate of 12.1 percent recorded in June 2017.

The monthly change rate for July 2017 was 0.7 percent compared to the 0.9 percent recorded for June 2017, down by 0.2 percentage point.

Main price drivers for this rate includes transport, recreation and culture, household goods and services.

The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.2%. This is 1.0 percentage point higher than the rate recorded in June.

Transport recorded the highest inflation rate of 22.0% followed by recreation and culture with 19.2%.

Inflation was lowest in the housing, water, electricity, gas and other fuels subgroup (6.2%)

Greater Accra and Upper West regions recorded the highest year-on-year inflation rate of 12.7%, followed by Western and Brong Ahafo with 12.2% each, while the Upper East region recorded the lowest year-on-year inflation of 8.6% in July 2017.

This rate of inflation is the lowest recorded since September 2013, according to Acting Government Statistician, Baah Wadieh.