PFJ, Exchange rate stability drop inflation rate to 9.1%

The Ghana statistical service has disclosed that the inflation rate for the month of June has dropped to 9.1 percent, from 9.4 percent recorded in May.

The service attributed the decrease to factors including the stable exchange rate and produce from the planting for food and job policy.

Other factors include favorable weather patterns and conditions at beginning of the harvest season.

The Upper West, Brong Ahafo, Western, Volta and Ashanti Regions recorded inflation rates above the National Average.

Deputy Government Statistician, Araba Forson, disclosed that “several factors contributed to the fall in the rate of inflation in June 2019. And that’s why we look at both food and non-food, and we also look at the locally produced and the non-locally produced, and then we also look at regional distribution. All these contribute to the overall inflation rates year on year, and well as month to month.”

She stressed: “in any given month, the figure is determined by the balance between the upward and downward price movements for the range of goods and services included in the index.”