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Inflation goes up to 17.1%

Inflation rate for the month of June 2015 has increased to 17.1 per cent, from 16.9 per cent in May 2015 representing a 0.2 per cent increase.

Making the announcement Wednesday, government statistician Dr Philomena Nyarko said 1.8 per cent was the monthly change rate for June 2015 as compared to 1.0 per cent recorded for May 2015.

The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.4 per cent, which is 0.1 per cent higher than the 7.3 per cent recorded in May 2015.

Seven sub-groups of the food and non-alcoholic beverages group recorded inflation rates higher than the group average rate of 7.4 per cent.

The non-food group recorded a year-on-year inflation of 23.6 per cent in June 2015, compared to the 23.4 per cent recorded for May 2015, which is more than three times the food inflation rate.

Four sub-groups recorded a year-on-year inflation rate higher than the group’s average of 23.6 per cent, Dr Nyarko said.

According to her, the main price drivers for non-food inflation rate were: transport, which recorded the highest inflation rate of 25.5 per cent, followed by housing, water, electricity, gas and other fuels, which had 24.8 per cent, and education, which recorded 24.6 per cent.

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