Home Business Ghana’s inflation rate inches up at 7.8% in June

Ghana’s inflation rate inches up at 7.8% in June


The Government Statistician, Professor Samuel Kobina Annim has disclosed that the Year-on-year inflation, stood at 7.8 percent in June compared to 7.5 percent in May, pushed slightly, by transport and food items.

Speaking at a press briefing to announce the rate, Wednesday, Prof Annim said food and transport were the dominant drivers for the higher rate of inflation in June 2021.

Food contributed 41.8 percent to overall inflation, while transport’s contribution, increased from 16.5 percent last month to 18.1 percent.

“Inflation for June 2021 indicates that the six-month continuous decline in food inflation has been reversed by 1.9 percentage points,” he said.

The Month-on-Month inflation was 1.3 percent while the Month-on-month food inflation exceeds non-food inflation by 1.0 percentage points.

Year-on-year variation between food was 7.3 percent and non-food inflation, which is 8.2 percent was 0.9 percent.

“A reversal in the declining trend of food inflation has been observed for the first time in six months as it increases by 1.9 percentage points between May and June 2021.

“This has contributed in closing the gap between food and non-food inflation,” Prof Annim said.

Inflation for locally produced items has regained its dominance over inflation for imported items, surpassing inflation for imported items by 0.9 percentage points.

Inflation for locally produced items was 7.9 percent compared to that of imported items at 7.0 percent.

The Northern Region continues to record higher Year-on-Year food inflation at 16.2 percent, closely followed by Upper West Region-14.8 percent, followed distantly, by is Greater Accra Region at 9.9 percent.

The Western Region recorded a deflation in food inflation by 1.1 percent.

Overall, Greater Accra Region recorded the highest rates of inflation for both non-food 14.4 percent and overall inflation at 12.5 percent.

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