Inflation rate in Ghana, for June 2018 rises to 10% as a result of increases in prices of non-food items in the country. This figure is an increase of 0.2% as compared to the 9.8% recorded in May, 2018.
According to the government Statistician Dr Baah Wadieh, prices of imported commodities continue to record a price increase for the last three months.
Food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.3%. 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%. Fortunately, inflation was lowest in the Housing, Water, Electricity, Gas and other fuel subgroups recording 3.4%.
Within the four regions in the country, Brong Ahafo, Upper West, Western and Ashanti recorded inflation rates higher than the national average of 10%. As Upper West region recorded the highest inflation rate of 11.9% followed by the Brong Ahafo region with 10.9% while the Upper East region recorded the lowest inflation of 8.1%.
The current inflation rise is just unfortunate. Where are we heading to as a country? Just within this year alone they have been an increase from 9.6% in April 2018, which was the smallest rate since December 2012, as prices advanced faster mainly for food and fuel.
In May, 2018 inflation was 9.8%, in June 2018 its 10%. Then by the end of this month or even this year guess we should expect more? But some way, somehow, I think something can be done. It all comes down to the leadership of this country.
By Prince Schroeder (Intern)
