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Business

Inflation rate for June drops to 12.1%

The inflation rate for June 2017 has dropped to 12.1 percent.
This is a 0.5 percent drop from the 12.6 rate in May 2017.
This is the lowest since December 2013.

The Acting government statistician Baah Wadie, said the decrease was due to the general decrease in the prices of goods in June compared to the same period last year.

“The main price drivers for the down food inflation rate were transport 23.1%, recreation and culture;20.8%, furnishing household equipment & routine maintenance;20.6%, clothing& footwear;16.6%, Miscellaneous goods and services;15.4% and health;14.3%.”

He also said the marginal reduction in fuel prices is also a contributing factor to the reduction.

The Upper East Region recorded the lowest rate of 8.6 percent.
Five regions, Upper West, Greater Accra Bono Ahafo Ashanti and Western Regions recorded inflation rates higher than the national average of 12.1 percent.

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