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Ghana’s inflation rate for May 2011 is 8.90%

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Ghana’s inflation rate continued its downward trend for the third time this year. The rate for May stands at 8.90%, the Ghana Statistical Service (GSS) has announced in Accra Wednesday June 15, 2011.

The rate is lower than the April rate of 9.02% and that of March which was 9.13%.

The Government Statistician, Dr. Grace Bediako told reporters that the inflation rate fell by 0.12% points.

The downward trend in inflation can be attributed more to the food and non-alcoholic beverages group than the non-food group, Dr. Bediako said.

“General food prices declined during the month”, she said.

Dr. Bediako said if the trend continues, inflation will “go down” and single digit will “still remain in the future”.

 

By Ekow Quandzie

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One comment

  1. We thank God that our inflation is declining for the past three month. but when you go to the market things are very costive so how come our inflation is still declining. peace be to your all. Hoping for a better thing in the near future.