June recorded 11.2% inflation

Inflation 1 695x430 1 695x375 File photo

Wed, 15 Jul 2020 Source: laudbusiness.com

The national year-on-year inflation rate was 11.2% in June 2020, which is 0.1 percentage points lower than last month, the Ghana Statistical Service (GSS), has announced.

Month-on-month inflation between May 2020 and June 2020 was 1%.

This is lower than the 1.7% recorded between April and May and 3.2% between March and April 2020, but higher than the average month-on-month inflation recorded in the months October 2019 to March 2020 (0.7%).

Only two of the thirteen Divisions had higher than average inflation rates; Housing, Water, Electricity and Gas (21.3%) and Food and Non-Alcoholic Beverages (13.8%).

At the regional level, the overall year-on-year inflation ranged from 4.3% in the Upper West Region and Volta Region to 15.0% in Greater Accra. In all, but Greater Accra,

Northern Region, and Upper East, Food inflation was higher than Non-Food Inflation (See Figure 3). Especially in Western Region (21.3% Food inflation compared to 7.4% NonFood inflation) and Ashanti (20.6% Food inflation and 5.4%

Non-Food inflation), we see large differences between the Food and Non-Food inflation.

The overall month-on-month inflation was between – 2.2% in the Upper West Region and 2.5% in Greater Accra.

Ashanti Region, which saw the highest month-on-month inflation between April and May 2020 (3.9%), had a negative (-0.6%) month-on-month inflation between May and June 2020.

Overall, Regions with high month-on-month inflation between April and May 2020, saw lower month-on-month inflation this month, and vice versa.

Source: laudbusiness.com