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Inflation rate for May 2019 dropped slightly from 9.5 % to 9.4%

The inflation rate for May 2019 has dropped slightly to 9.4 per cent down by 0.1 percentage point from the 9.5 per cent recorded in April 2019.
The non-food group recorded a year on year inflation rate of 10.6 per cent in May compared to 10.4 recorded in April of the same year.
The Deputy Government Statistician, Mr David Combact at a press conference held in Accra today explained that at the regional level, the year-on-year inflation rate ranged from 8.0% for upper East region to 11.1% for upper west region.
According to him, four regions (upper west, Brong Ahafo, western and Ashanti) recorded inflation rates above the national average and Greater and Eastern regions recorded the same inflation rate of 9.1%.
“The monthly change rate for May 2019 was 0.9% compared with the 1.1 $recorded for April 2019. The food and non-alcoholic beverages group recorded a year-on-year rate of 7.3%,” he said.
“This is 1.1% point lower that he rate recorded in April2019, while five subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 7.3%,” Mr Combact added.
He said four subgroups recorded year-on-year inflation rates higher than the group’s average rate of 10.6, clothing and footwear, recreation and culture recorded the highest inflation rate of 15.0%, followed by furnishings, household equipment and routine maintenance with 14.5%, and transport with 12.5%, the communications sub sector recorded the lowest with 6.1%.
“The consumer inflation is change over time in the price of general goods and services that households acquire for consumption,’ he added.

Source: Atinkaonline.com|

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