August Inflation Rate Hits 9.9%

Acting government statistician, Baah Wadieh has announced the year on year inflation for the month of August was 9.9% as compared with the 9.6 %recorded in July.
The monthly change rate was 0 % compared with the rate of 0.4 % recorded in July 2018.

Baah Wadieh said the year-on-year non-food inflation rate for August 2018 was 10.8 % compared with the rate of 10.7% recorded in July 2018.

According to him, the year-on-year food inflation rate for August 2018 was 7.9 % compared with 7.4 % recorded in July 2018. Also, the year-on-year non-food inflation 10.8 % was more than one quarter that of the food inflation rate (7.9 per cent).

The main price drivers for the non-food inflation rate were clothing and footwear (15.2 %), Transport (15.1 %%), Recreation and culture (13.9 %), Furnishing, household equipment and routine management (12.6 %) and miscellaneous goods and services (11.9 %).

Five regions (Upper West, Brong Ahafo, Western, Ashanti and Northern) recorded inflation rates higher than the national average.

Upper West region recorded the highest year-on-year inflation rate of 11.8 % followed by Brong Ahafo region (10.8 %) while the Upper East region recorded the lowest year-on-year inflation (8.2 %) in August 2018.

 

 

Source: myarkfmonline.com

News Reporter

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