May CPI edges up to 16.9 per cent

•    Dr. Philomena Nyarko

• Dr. Philomena Nyarko

The annual Consumer Price Inflation (CPI) for May rose to 16.9 per cent from 16.8 per cent the previous month, recording an increase of 0.1 percentage point.

Dr. Philomena Nyarko, Government Statistician who announced this yesterday in Accra said the food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.3 per cent.

“This is 0.1 percentage point higher than the 7.2 per cent recorded in April. Seven subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 7.3 per cent,” she added.

Dr. Nyarko said the non-food group recorded a year-on-year inflation rate of 23.4 per cent in May compared to the 23.2 per cent in April.

She said four subgroups recorded year-on-year inflation rates higher than the group’s average rate of 23.4.

Dr. Nyarko said housing, water, electricity, gas and other fuels recorded the highest rate of 25.4 per cent followed by transport with 25.2 per cent.

She said clothing and footwear recorded 24.4 per cent and furnishings, household equipment and routine maintenance, 23.5 per cent.

According to Dr. Nyarko, inflation was lowest in the communication subgroup with 13.1 per cent.

She said the inflation rate ranged from 15.4 per cent in both the Upper West and Western regions to 19.0 percent in the Central Region.

Dr. Nyarko noted that Central, Ashanti, Volta, Upper East and Greater Accra regions recorded inflation rates above the national average of 16.9 per cent.

By Joseph Edu Archison & Emma Wiafe

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