The Consumer Price Index (CPI) which measures the change over time in the general price level of goods and services stood at 17.9 percent in July 2015.
This shows 0.8 percentage point increase from the 17.1 percent recorded in June 2015.
This rate of inflation for July 2015 is the percentage change in the CPI over the twelve-month period, from July 2014 to July 2015.
The monthly change rate for July 2015 was 2.3 percent compared to the 1.8 percent recorded for June 2015.
Releasing the figures at the premises of the Ghana Statistical Service, the Government Statistician Dr. Philomena Nyarko explained that the food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.6 percent.
“This is 0.2 percentage point higher than the 7.4 percent recorded in June 2015”, she said.
Dr. Nyarko stated that seven subgroups of the food and non-alcoholic beverages group recorded inflation higher than the group’s average rate of 7.6 percent.
She mentioned that the non-food group recorded a year-on-year inflation rate of 24.6 percent in July 2015, compared to the 23.6 percent recorded for June 2015.
According to her, five subgroups recorded year-on-year inflation rates higher than the group’s average rate of 24.6 percent.
“Housing, water, electricity, gas and other fuels recorded the highest inflation rate of 27.1 percent, followed by Transport (25.7%), Recreation and culture (25.5 %), Clothing and footwear (24.9%) and Furnishing, household equipment and routine maintenance (24.9%)”, she said.
“Education recorded inflation rate of 24.6 percent, the same as the group’s average of 24.6 percent. Inflation was lowest in Communication subgroup (13.1%)”, she added.
At the regional level, Dr. Nyarko announced that the year-on-year inflation rate ranged from 14.3 percent in the Northern Region to 19.8 percent in the Central Region while four regions (Central, Ashanti, Volta, and Upper East) recorded inflation rates above the national average of 17.9 percent.
By LAWRENCE SEGBEFIA
