Inflation for the month of May went up marginally to 18.9%.
The rate increased by 0.2% from the 18.7% in April 2016.
The monthly change rate for May was 1.1%.
According to the Ghana Statistical Service, elements of the non-food group of inflation namely; transport, housing, water, electricity, education and recreation among others accounted for the increase.
The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 8.5 percent. This represented a 0.1 percentage point higher than the 8.4 percent recorded in April 2016.
The non-food group on the other hand recorded a year-on-year inflation rate of 25 percent in May 2016.
Four sub-groups recorded year-on-year inflation higher than the group’s average rate of 25 percent.
Transport recorded the highest inflation rate of 40.9 percent, followed by housing,water, electricity,gas and other fuels with 35.7 percent, education 32.3 percent and recreation & culture with 27.9 percent.
At the regional level, the year-on-year inflation rate ranged from 15 percent in the Upper East region to 22.6 percent in the Greater Accra region.
Two regions; Greater Accra and Ashanti recorded inflation rates above the national average of 18.9 percent.
Inflation for the month of April had declined from 19.2 percent recorded in March 2016.
Similarly the non-food inflation components accounted for the decrease in April.
The consumer price index measures the change over time in the general price levels of goods and services that households require for the purpose of consumption.
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By: Norvan Acquah-Hayford/citibusinessnews.com/Ghana
