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Inflation now stands at 16.88
per cent
Accra, June 13, Ghanadot/GNA - The
monthly inflation rate for May has increased from 15.29 per
cent in April to 16.88 per cent, according to the Ghana
Statistical Service.
The rate has been rising since the beginning of the year,
jumping by 1.59 percentage points, the highest so far for
the year.
The difference between the rate of inflation in two
preceding months (April and March 2008) was slightly lower
being 1.50 percentage points.
The major contributory factors were categorized into eight
sub-groups comprising the non-food groups which percentage
rate was 2.62 higher than that of the food groups being
another contributory factor.
Among the sub-groups, only two of these groups (fish, and
bread and cereals) are in the food group. Those in the
non-food groups are hotels, cafés and restaurants, transport
among others.
Statistics show that inflation rates recorded in the regions
range from 11.84 per cent in Ashanti to 23.00 per cent in
the Northern Region.
Northern Region led six regions that recorded inflation
rates above 20 per cent whilst Greater Accra led the other
three regions that recorded inflation rates below the
national rate of 16.88 per cent.
The rate of inflation has increased in all the regions.
Meanwhile the month-to-month, that is the monthly rate of
inflation from one month to the other, has also been
increasing since the beginning of the year.
The January monthly change of 1.17 per cent rose to 3.20
percent in May 2008.
GNA
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