Inflation decreased marginally to 11. 2% in June after it reached 11.3% in May, the Statistical Service has published.
Government Statistician, Prof Kwabena Anim, explains that the food continues to be a major driver and contributed 54.5% to last month’s inflation rate.
According to him, the country recorded a Consumer Price Index (CPI) of 119.8 for June relative to May’s 118. 6.
“The month of June we recorded a CPI for June as 119.8 relative to 118. 6 in May. This means that year on year inflation for the month of June 2020 was 11.2% what this means is that between June 2019 and June 2020 prices of general goods have gone up by the average 11.2%,” he said.
“On a month on month basis which is between May and June we see a just of 1.0 %, we do a further disaggregating on the year on year basis and we realized that from a year on year perspective food continues to dominate its contribution to inflation specifically food is contributing 54.5% relative to other divisions.”
In terms of contribution to year on year inflation, food was the major contributor, contributing about 56 percentage points. In April 2020, food inflation contributing close to 60%, “so the contribution of food has slowed down in May 2020,” he told journalists at a meeting to announce the inflation figures.