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Business News of Wednesday, 15 June 2016


May inflation hits 18.9%

Inflation for the month of May went up marginally to 18.9%. The rate increased by 0.2% from the 18.7% in April 2016. The monthly change rate for May was 1.1%.

According to the Ghana Statistical Service, elements of the non-food group of inflation namely; transport, housing, water, electricity, education, and recreation among others accounted for the increase. Inflation for the month of April had declined from 19.2 percent recorded in March 2016.

Similarly, the non-food inflation components accounted for the decrease in April. The consumer price index measures the change over time in the general price levels of goods and services that households require for the purpose of consumption.