Baah Wadieh – Acting Government Statistician
The year-on-year inflation rate for June 2018 was 10.0 percent compared to that of May 2018 which was 9.8 percent, a rise of 0.2 percentage point.
Baah Wadieh, Acting Government Statistician, who made this known yesterday at a press conference in Accra, said the non-food group inflation rate, which increased by 0.3 percentage point from 10.9% in May 2018 to 11.2% in June 2018, was chiefly responsible for the rise in the overall rate of inflation.
Within this category, the main price driver for the rise in the rate of inflation in June 2018 was transport, which recorded a 5.2 percentage points rise from 10.3% in May 2018 to 15.5% in June 2018.
Also, in the transport sub-group, the main price drivers for the rise in the rate of inflation in June 2018 were intercity bus (ordinary), where the inflation rate rose from 0.1% in May 2018 to 10.0% in June 2018 due to the increased in transport fares by 10.0% in June 2018.
Another factor was urban bus (trotro) inflation rate, which rose from 0.0% in May 2018 to 10.0% in June 2018 due to the increased in transport fares by 10.0% in June 2018; and shared taxi fixed route, short distance inflation rate, which rose from -0.1% in May 2018 to 10.0% in June 2018 due to the increase in transport fares by 10.0% in June 2018.
The month-on-month inflation rate for June 2017 was 0.9% compared to 1.0% recorded in June 2018.
The food group inflation rate which fell from 7.6% in May 2018 to 7.3% in June 2018, on the other hand, had the following sub-groups recording higher percentage points fall in inflation rates for June 2018.
Food products fell by 1.5 percentage points from 9.3% in May 2018 to 7.7% in June 2018 while oils and fats fell by 1.5 percentage points from 8.0% in May 2018 to 6.5% in June 2018.
Mineral water, soft drinks, fruits and vegetable juices fell by 0.9 percentage point from 9.3% in May 2018 to 8.4% in June 2018 while coffee, tea and cocoa fell by 0.5 percentage point from 10.8% in May 2018 to 10.3% in June 2018.
Sugar, jam, honey, chocolate and confectionery fell by 0.5 percentage point from 6.5% in May 2018 to 6.0% in June 2018.
Meat and meat products fell by 0.4 percentage point from 9.1% in May 2018 to 8.7% in June 2018 as milk, cheese and eggs fell by 0.3 percentage point from 6.1% in May 2018 to 5.8% in June 2018.
While cereals and cereal products fell by 0.3 percentage point from 6.5% in May 2018 to 6.2% in June, fruits fell by 0.3 percentage point from 9.9% in May 2018 to 9.6% as fish and seafood fell by 0.2 percentage point from 7.0% in May 2018 to 6.8% in June.
Regional performance
Upper West Region recorded the highest regional combined inflation rate (11.9%). Education (27.2%), Transport (22.9%), Clothing and Footwear (16.1%). Miscellaneous Goods and Services (15.9%), Furnishings, Household Equipment and Routine Maintenance (13.3%) and Recreation and Culture ((12.1%) were responsible for the high inflation in the Upper West Region.
Upper West Region recorded the highest regional non-food inflation rate (14.8%) due to the rise in inflation for the following subgroups; Education, Transport, Clothing and Footwear and Miscellaneous Goods and Services.
Ashanti Region recorded the highest food inflation rate (8.1%) due to Vegetables (10.7%), Coffee, tea and cocoa (10.6%), Oils and fats (10.5%), Non-alcoholic beverages (9.6%), Mineral water, soft drinks, fruit and vegetable juices (9.1%) and Meat and meat products (8.5%).
By Samuel Boadi