GAPNEWS

Inflation rate for May drops to 9.4%

Inflation rate for May 2019 recorded a marginal reduction to 9.4 per cent down by 0.1 percentage point from the 9.5 per cent recorded in April 2019.
Deputy Government Statistician, David Kombat has been explaining to the media in Accra that the rate recorded was highly influenced by the declining rate of food inflation in the measuring basket.
"We have seen a slight decline in food prices especially vegetables as a result of the weather patterns. This usually happens when we're entering into the raining season and commodity prices begin to experience some dips but this is also accompanied by some reductions in certain components of the non-food items" he said.
Upper West recorded the highest general inflation of 11.1 per cent whiles Ashanti the highest rate in food inflation.
"The food and non-alcoholic beverage group recorded 7.3 per cent, a reduction of 1.1 per cent point lower than the rate recorded in April 2019," Mr Kombat said.
The non-food group recorded a year on year inflation rate of 10.6 per cent in May 2019 compared to 10.4 per cent recorded for April 2019.
Four subgroups recorded year on year inflation rates higher than the group's average rate of 10.6 per cent.
Clothing and footwear, recreation and culture recorded the highest inflation rate of 15.0 per cent followed by furnishings, household equipment and routine maintenance with 14.5 per cent and transport with 12.5 per cent.

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