The Consumer Price Index (CPI) which measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption stood at 17.1 percent in June 2015.
The year-on-year inflation rate in June 2015 went up by 0.2 percentage points from the 16.9 percent recorded in May 2015. This rate of inflation for June 2015 is the percentage change in the CPI over the twelve – month period from June 2014 to June 2015.
The Government Statistician, Dr. Philomena Nyarko speaking to the press said the monthly change rate for June 2015 was 1.8 percent compared to the 1.0 percent recorded for May 2015.
Dr. Nyarko further explained that the year-on-year non-food inflation rate for June 2015 was 23.6% compared with the 23.4% recorded in May 2015.
She said the main price drivers for non-food inflation rate were transport which recorded the highest inflation rate of 25.5 percent, followed by housing, water, electricity, gas and other fuel- 24.8%, education recorded 24.6% and clothing and footwear -24.3%, while communication sub-group recorded the lowest rate of 12.0%.
The Statistician explained that the food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.4 percent, representing 0.1 percentage point higher than 7.3 percent recorded in May 2015.
She pointed out that the main price drivers for the food inflation rate were coffee, tea and cocoa- 17.1%, mineral water, soft drinks, fruit and vegetable juice 16.2%, sugar, jam, honey, chocolate and confectionery 15.2%, food products n.e.c 14.9, meat and meat product 13.9%, milk, cheese and eggs 12.3% and cereals and cereal products 8,3%.
Four regions that are Central, Ashanti, Volta and Upper East recorded inflation rates higher than the national average of 17.1%.
Central region recorded the highest year-on-year inflation rate of 19.5%, while Upper West and Northern regions recorded the lowest rate of 14.8%
The year-on-year inflation rate for imported items recorded 21.2% for June 2015, about 1.4% times higher than that for locally produced items of 15.5%.
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