Inflation increased by 0.2% to reach 11.4% in July - Ghana Statistical Service
- The Ghana Statistical Service has revealed that the inflation rate for July was 11.4 percent
- It explained that this was 0.2 percent higher than the rate recorded for the preceding month
- Details also show that the highest year-on-year inflation rate was recorded in the Greater Accra Region and the lowest was in the Volta Region
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YEN.com.gh has gathered that the rate of inflation increased by 0.2 percent to reach 11.4 percent in July 2020.
According to the Ghana Statistical Service (GSS), the month-on-month inflation between June 2020 and July 2020 was 0.5 percent.
This was less than the 1.0 percent recorded between May and June, the 1.7 percent recorded between April and May, and the 3.2 percent recorded between March and April 2020.
Source: UGC
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It was also realised that the overall year-on-year inflation ranged from 4.2 percent in the Volta Region to 16.2 percent in the Greater Accra Region.
A report by classfmonline.com shows that food inflation was higher than non-food inflation in all regions except the Greater Accra, Northern, and Volta regions.
The report also noted that the core inflation, which is the measure of inflation designed to present a more constant statistic of price change, was 9.3 percent in July.
YEN.com.gh earlier reported that the GSS reported Ghana’s economy grew by 6.5 percent in the year 2019. This is according to revised estimates by the Service and has been compared with the 6.3 percent recorded in 2018 and 8.1 percent recorded in 2017.
The economy also recorded a growth of 5.8 percent of the Gross Domestic Product (GDP) for the non-oil sector.
READ ALSO: Gov't adopts strategy to push tax-to-GDP to 20%; current rate is 13%
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Source: YEN.com.gh
