Ghana's Inflation Remains At A Single Digit. Details Here -

The higher rate of inflation recorded for foodstuffs and transportation pushed inflation for the period of June barely up by 0.3% to 7.8%.

Be that as it may, in spite of the increment, the country kept on remaining within the single digit inflation for as long as 90 days.

This minor increment will also not affect normal cost of living that much.

As per data from the Ghana Statistical Service, month-on-month inflation between May 2021 and June 2021 was 1.3%. This implies costs of labor and products went up marginally inside the period.

While food inflation was 7.3%, that of non-food Inflation was 8.2%. Strangely, food inflation was lower in May 2021, though non-food inflation was higher around the same time.

The difference between food and non-food inflation was 0.9 percentage points, but the difference between food inflation for May and June 2021 was 1.9 percentage points.

Inflation for locally produced items was 7.9%, whereas iinflation for imported items was 7.0%. However, inflation for local goods surpassed inflation for imported items by 0.9 percentage points.

In overabundance of 5.5 percentage points, two divisions- – Housing, Water, Electricity and Gas (14.2%) and Transport (13.4%)} record inflation rates higher than the national rate of 7.8%. This shows that the progressions in food and transport costs are expanding at a faster rate.

Then again, three divisions record inflation – Housing, Water, Electricity and Gas (14.2%); Transport (13.4%); in addition to Insurance and Financial Services (5.5%)} higher than the inflation for rolling average July 2020 to June 2021.

Water recorded a deflation rate whilst Fish and Other Seafood also recorded a deflation of 1.9%.

Meanwhile, the capital Accra continued to dominate the regions with the highest rate of inflation rate of 12.5%, largely influenced by prices of food and housing.

Northern region come close suit with an inflation rate of 11%. Ashanti region recorded same inflation rate as the national average of 7.8%.

Northern region continued to record higher year-on-year food inflation (16.2%), closely followed by Upper West 14.8% and distantly next is Greater Accra 9.9%.