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Business News of Friday, 20 September 2019

Source: laudbusiness.com

Electricity, housing record 9.9% inflation in August

Housing, water, electricity, gas and other fuels recorded 9.9% per cent inflation rate during the month of August 2019, the Ghana Statistical Service (GSS), has announced.

Speaking at a press conference in Accra on Wednesday 18th September, 2019, the Government Statistician, Professor Samuel Kobina Annim, said : “The Non-food group recorded a year-on-year inflation rate of 7.4 percent in August 2019. Alcoholic Beverages, Tobacco and Narcotics (12.9%), Transport (10.2%) and Housing, water, electricity, gas and other fuels (9.9%) were the key drivers of the non-food inflation in August.”

He also said the inflation rate for August 2019 has dropped to 7.8 per cent.

“The food and non-alcoholic beverages group, he said recorded a year-on-year inflation rate of (8.2) per cent; fruit and nuts (25.2) per cent; cereals and cereal products (10.6) per cent; sugar, confectionery and deserts (9.0) per cent; and ready-made food and other food products (8.3) per cent. They were the major drivers of the food inflation.”

At the regional level, he added: “the year-on-year inflation rate ranged from 3.9 per cent for the Eastern Region to 12.4 per cent for the Greater Accra Region. Four regions (Greater Accra, Upper West, Central and Volta) recorded inflation rates above the national average (7.8) per cent. The Eastern Region recorded the least inflation rate of 3.9 per cent.”

The national inflation rate for August was 7.8 per cent, Prof Annim indicated.