Ghana’s consumer inflation rate went up here by 0.2 percentage points to 11.4 percent year-on-year in July, compared with the 11.2 percent year-on-year inflation rate recorded for June, the Ghana Statistical Service (GSS) said here on Wednesday.

While food inflation reduced by 0.1 percentage points to 13. 7 percent during the month under review, the non-food inflation increased 0.5 percentage points to 9.7 percent year-on-year.

The statistical service attributed the rising inflation to the increase in fuel prices and a 15 percent across the board increase in transportation fares in July.

The difference between the inflation rates for locally produced items (14.1 percent) and imported items (5.1 percent) was 9.0 percent, said the GSS.

Meanwhile, the local office of African commodity analysts ESOKO has projected a decline in the prices of food items on the Ghanaian market in August.

The West African country has revised its 2020 economic growth projections downward to 0.9 percent from 6.8, as the spread of COVID-19 continues to dampen growth prospects while causing price increases. Enditem

Disclaimer: News Ghana is not responsible for the reportage or opinions of contributors published on the website.

Send your news stories to [email protected] and via WhatsApp on +1-508-812-0505 

Previous articleGhana seeks US$1.3 billion for next season’s cocoa purchases
Next articleU.S. seeks to invoke snapback against Iran as its proposal fails in UN Security Council
Xinhua News Agency, Xinhuanet is an important central news service-oriented website, an important information organ of the central government, and an important platform for building up China's online international communication capacity. Established on November 7, 1997, as an online news provider of the Xinhua News Agency, it was officially named Xinhuanet on March 10, 2000 and began around-the-clock news release with leading online public opinion at home and setting a good image of China abroad as its main task.


Please enter your comment!
Please enter your name here