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Business News of Friday, 17 August 2018


Non-food group pull inflation down to 9.6 % in July

The non-food sub-groups of the consumer price index (CPI) have driven inflation for July back to a single digit at 9.6 percent, from 10.0 percent recorded in June.

Speaking to the new development, Acting Government Statistician, Baah Wadieh said “the downward trend is due to the fact that for the non-food sub-group inflation fell by about 0.5 percentage points from 11.2 to 10.7 percent.”

The CPI measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption

Five non-food subgroups recorded inflation rates higher than the group’s average rate of 10.7 percent

Clothing and footwear recorded the highest inflation rate of 15.4 percent, followed by Transport with 15.0 percent, Recreation and culture with 13.4 percent, Furnishings, household equipment and routine maintenance with 12.5 percent and Miscellaneous goods and services with 12.0 percent.

The lowest Inflation rate to be recorded in this sub-group was in the Housing, Water, Electricity, Gas and Other Fuels, at 3.0 percent.

The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.4 percent.

This is 0.1 percentage point higher than the rate recorded in June. Six sub-groups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 7.4 percent

At the regional level, the rates of inflation ranged from 7.8 percent in Upper East to 11.5 percent in Upper West.

Five regions: Upper West, Brong Ahafo, Western, Ashanti and Northern, recorded rates above the national average rate of 9.6 percent.