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GSS: July inflation is 11.4%

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The national year-on-year inflation rate was 11.4% in July 2020, which is 0.2 percentage points higher than last month the Ghana Statistical Service (GSS) has announced.

Month-on-month inflation between June 2020 and July 2020 was 0.5%. This is lower than the 1.0% recorded between May and June, the 1.7% recorded between April and May and the 3.2% between March and April 2020.

The average month-on-month inflation recorded in the months October 2019 to March 2020 was 0.7%. Only two of the thirteen Divisions had higher than average inflation rates; Housing, Water, Electricity and Gas (20.3%) and Food and Non-Alcoholic Beverages (13.7%).

At the regional level, the overall year-on-year inflation ranged from 4.2% in the Volta Region to 16.2% in Greater Accra. In all, but Greater Accra, Northern Region, and Volta Region, Food inflation was higher than Non-Food Inflation. Especially in Western Region (19.8% Food inflation compared to 7.2% Non-Food inflation) and Ashanti (20.6% Food inflation and 4.3% Non-Food inflation).

 These patterns are similar to those observed last month. The overall month-on-month inflation was between – 0.5% in the Western Region and 1.6% in Upper West Region. With the exception of the Transport Division, most other Divisions saw a lower month-on-month inflation between June and July 2020 than on average between April and June 2020.

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