Prof. Samuel Annim
YEAR-ON-year inflation for June 2020 – June 2021 was 7.8%.
Month-on-month (May 2021 – June 2021) inflation was 1.3%, while year-on-year variation between food (7.3%) and non-food inflation (8.2%) was 0.9%.
The Ghana Statistical Service (GSS) which made this known in Accra, said the month-on-month food inflation exceeds non-food inflation by 1.0 percentage point (1.8% vs. 0.8%)
Food and Transport were the dominant drivers for the higher rate of inflation in June 2021.
Inflation for June 2021 indicates that the six-month continuous decline in food inflation has been reversed by 1.9 percentage points.
Inflation for locally produced items has regained its dominance over inflation for imported items.
The Northern Region continues to record higher year-on-year food inflation (16.2%), closely followed by Upper West 14.8% and distantly next is Greater Accra 9.9%.
The inflation rate in May 2021 was 7.5%, one percentage point lower than the 8.5% recorded in April 2021.
Month-on-month inflation between April and May 2021 was 0.8% (0.7 percentage point lower than what was recorded in April).
Housing, Water, Electricity, and Gas which was 19.9% down from 25.0% last month, recorded the highest inflation.
At the regional level, the overall year-on-year inflation ranged from 2.6% in Western Region to 12.3% in Greater Accra Region.
Upper West Region recorded the highest month-on-month inflation (4.3%). Three regions saw a stark decline in food inflation as compared to last month.
A business desk report