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B/A Inflation Rate For June Hits 10.9%

botchway July 12, 2018

From Francis Owusu-Ansah, Sunyani  .

The inflation rate for the Brong-Ahafo Region in June 2018 was 10.9%, slightly higher than the national average rate for the same period.

Three other regions – Upper West, Western and Ashanti – also recorded inflation rates higher than the national average of 10%, with the Upper East Region recording the lowest of 8.1%. The inflation rate for June 2018 rose to10 per cent as a result of increases in prices of non-food items in the country.
This figure is an increase of 0.2 per cent as compared to the 9.8% recorded in May 2018.

Government Statistician Dr Baah Wadieh says prices of imported commodities continue to record a increases over the last three months. The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.3 per cent. This is 0.3 percentage point lower than the rate recorded in May 2018.

The non-food group recorded a year-on-year inflation rate of 11.2% in June 2018, compared to the 10.9 per cent recorded for May 2018.

Five subgroups recorded year-on-year inflation rates higher than the group’s average rate of 11.2%. Clothing and footwear recorded the highest inflation rate of 16.1%, followed by transport with 15.5%, recreational and culture with 13.8%, furnishings, household equipment and routine maintenance with 13.3%, and miscellaneous goods and services with 12.7%.

Inflation was lowest in the housing, water, electricity, gas and other fuel subgroups (3.4%). Meanwhile, business activities in the region have been a bit slow over the past few months. Business analysts attribute the trend to the fact that most farmers are yet to harvest their produce, which would pump money into the system. “Normally, business is slow in the region around June, July, but it will pick up from August, by which time farmers would have harvested their farms,” a banker told The Chronicle.

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