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Ghana's consumer inflation rate inches up to 16.9 pct in August

Xinhua, September 15, 2016 Adjust font size:

Headline consumer inflation in Ghana rose to 16.9 percent in August, compared to 16.7 percent recorded in July, the Ghana Statistical Service (GSS) said here on Wednesday.

Inflation rate for food, one of the two sub-sectors, decreased by 0.1 percentage points to record 8.5 percent during the month under review, down from 8.6 percent in July.

On the other hand, non-food inflation rate inched up to record 21.5 percent inflation rate in August from 21.2 percent in the previous month.

Main price drivers for the non-food inflation rate were education (34.1 percent), housing, water, electricity, gas and other fuels (28.1percent); transport (27.4percent), and recreation and culture (27.2percent), according to the GSS.

For food inflation, the main price drivers, according to the GSS, were vegetables (11.5 percent), mineral water, soft drinks, fruit and vegetable juices (10.6percent), and oils and fats (10.1percent).

For imported items, the inflation rate during the month of August was 17.3 percent, compared with the 15.2 percent recorded the previous month, while locally produced items recorded an inflation rate of 16.7 percent, up from 17.3 percent recorded in July. Endit