Business News Wed, 15 May 2019

Inflation rate for April inches up to 9.5%

Inflation rate for April 2019 inched up to 9.5 per cent up by 0.2 percentage point from the 9.3 per cent recorded in March 2019.

The increased in the rate for the non-food sub-sector contributed to the increase according to the Deputy Government Statistician, David Kombat.

The non-food group recorded a year on year inflation rate of 10.4 per cent in April compared to 9.7 recorded in March of the same year.

He explained that "Five subgroups recorded year on year inflation rates higher than the group's average of 10.4 per cent. Clothing and footwear recorded the highest inflation rate of 14.3 per cent followed by recreation and culture 14.1 per cent, transport with 13.2 per cent. However, inflation in the health sector recorded the lowest rate of 5.9 per cent".

At the regional level, the year on year rate ranged from 8 per cent for the Upper East region to11.5 per cent for Upper West Region.

The monthly rate for the overall inflation was 1.1 per cent compared with the 1.2 per cent recorded for March 2019.

The food group had 7.3 per cent, a reduction of 1.1 per cent from the March figure.

The consumer inflation is change over time in the price of general goods and services that households acquire for consumption.

Source: Myjoyonline.com
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