Ghana Infaltion Rate Fastens to 16.9% in August
The annual inflation in Ghana accelerated to 16.9 percent in August of 2016, from 16.7 percent in the previous month. The rise in consumer prices was mainly due to higher cost of housing and utilities and transport.
Year-on-year, prices went up for food and non-alcoholic beverages (8.5 percent from 8.6 percent); transport (27.4 percent from 27.2 percent in July) and housing and utilities (28.1 percent from 25.4 percent). Additional pressure came from: clothing and footwear (22.8 percent from 24.3 percent); recreation and culture (27.2 percent from 28.3 percent); furnishings and household items (22 percent from 23 percent); education (34.1 percent from 35.4 percent); miscellaneous goods and services (14.2 percent from 17.1 percent); health (14.2 percent from 14.6 percent); hotels, cafes and restaurants (15.1 percent from 15.5 percent) and communication (12 percent from 13 percent).
On a monthly basis, consumer prices fell 0.6 percent, following a 0.9 percent rise in the previous month. Cost of food dropped 1.4 percent, housing and utilities went down 0.5 percent and transport edged down 0.1 percent.
9/14/2016 12:09:36 PM