Ghana's inflation rises to 31.7 pct in July

By UnreguserXu Zheng

ACCRA, Aug. 10 (Xinhua) -- Ghana's inflation rate increased to 31.7 percent in July, the highest since November 2003, said the Ghana Statistical Service (GSS) Wednesday.

Samuel Annim, the government statistician, said at the monthly press briefing that imported goods have become more expensive, leading to a 33.9 percent rise in the inflation rate for imported goods, compared with 30.9 percent inflation for locally produced items.

"Food inflation increased to 32.3 percent in July from 30.7 in June, and non-food inflation rate increased to 31.3 percent in July compared with 29.1 percent the previous month," said Annim.

Despite the slowdown in the pace of increase in the inflation rate in June and July, the government statistician urged caution, adding that it is early days yet to assume inflation has peaked.

Ghana's local currency has depreciated almost 30 percent between January and July as the government struggles to raise funds from the global capital market.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In World

In El Salvador, rising inmate numbers threaten humanitarian crisis: NGO
Canada sets up recovery fund for Hurricane Fiona
41st ICAO elects 36 members to new council
S.Korea, U.S. military launch 4 surface-to-surface missiles in response to N.Korea missile test -Yonhap
Jordan signs 100-mln-USD loan with OPEC Fund to enhance food security
U.S. crude oil inventories down: API
North Korean missile launch 'deliberately provocative,' EU says
U.S. agricultural futures close mixed
U.S.-listed Chinese firms trade higher
Oil prices rally ahead of OPEC+ meeting

Others Also Read