13 June 2019

Ghana: Inflation Rate Drop for May 2019

press release

Inflation rate for May 2019 dropped marginally to 9.4 per cent, down by 0.1 per cent from the 9.5 per cent recorded in April 2019.

The monthly change rate for May 2019 was -0.9 per cent compared with the 1.1% recorded for April.

The Deputy Government Statistician, Mr. David Combat, explained yesterday that the food and non-alcoholic beverages group recorded inflation rate of 6.7 per cent as compared to the 7.3 per cent recorded in April 2019. This is a 1.1 percentage point lower than the rate recorded in April 2019.

Mr. Combat attributed the fall in food and non-alcoholic beverages to the fall in the inflation rate recorded by vegetables, other leafy vegetables and staples, fish and seafood, and meat and meat product sub-group.

Year-on-year non-food inflation, on the other hand, rose to 10.6 percent in May 2019, compared to the 10.4 percent recorded in April 2019, he added. "The price drivers for non-food inflation were clothing and footwear (15 per cent); recreation and culture (15 percent); furnishing, household equipment and routine maintenance (14.5) and transport (12.5 per cent)", he said.

At the regional level, the Deputy Government Statistician stated that four regions recorded inflation rates below the national average. The Upper West region recorded the highest rate of 11.1 per cent; followed by the Brong Ahafo region 10.5 per cent; then the Western region; 10.0 per cent and the Ashanti region, 9.6 per cent.

According to him, the remaining regions recorded rates lower than the national average with the Upper East region recording the lowest rate of 8.0 per cent.

In a related development, Mr. Combat mentioned that the pilot programme for the population census had started at some selected areas, adding that the public was cooperating with census enumerators.

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