Inflation stays in single-digit despite going up to 7.8%

Listen to this Article Now

The higher pace of expansion recorded for staples and transportation pushed swelling for the period of June barely up by 0.3% to 7.8%.

In any case, notwithstanding the increment, the nation kept on remaining inside the single-digit expansion for as long as 90 days.

This peripheral addition will likewise not influence the typical cost for basic items that much.

As per information from the Ghana Statistical Service, month-on-month swelling between May 2021 and June 2021 was 1.3%. This implies costs of labour and products went up somewhat inside the period.

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

The contrast between food and non-food expansion was 0.9 rate focuses, however, the distinction between food swelling for May and June 2021 was 1.9 rate focuses.

Swelling for privately delivered things was 7.9%, though inflation for imported things was 7.0%. Swelling for nearby products notwithstanding outperformed expansion for imported things by 0.9 rate focuses

In an overabundance of 5.5 rate focuses, two divisions {Housing, Water, Electricity and Gas (14.2%) and Transport (13.4%)} record swelling rates higher than the public pace of 7.8%. This shows that the progressions in food and transport costs are expanding at a quicker rate.

Then again, three divisions record expansion {Housing, Water, Electricity and Gas (14.2%); Transport (13.4%); and Insurance and Financial Services (5.5%)} higher than the swelling for moving normal July 2020 to June 2021.

Water recorded a collapse rate while Fish and Other Seafood likewise recorded an emptying of 1.9%.

Territorial expansion

The Greater Accra area kept on ruling the districts with the most elevated pace of expansion pace of 12.5%, generally affected by costs of food and lodging.

Northern area followed after accordingly with a swelling pace of 11%. Ashanti area recorded the same swelling rate as the public normal of 7.8%.

Northern district kept on recording higher year-on-year food expansion (16.2%), firmly followed by Upper West 14.8% and remotely next is Greater Accra 9.9%.