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Year-on-Year July 2021 Inflation Inches Up At 9.0%

The Year-on-year inflation rate for July stood at 9.0 percent compared to 7.8 percent in June.

Speaking at a press briefing in Accra, Government Statistician Professor Samuel Kobina Annim said food housing, and transport were the dominant drivers for the higher rate of inflation in July 2021.

Food contributed 47.0 percent to overall inflation while transport's contribution decreased from 18.1 percent last month to 14.3 percent.

He said the year-on-year variation between food inflation of 9.5 percent and non-food inflation of 8.6 percent was 0.9 percent.

The Month-on-Month food inflation exceeded non-food inflation by 0.7 percentage points.

The Government Statistician said more than three-quarters of the rate of inflation recorded in July 2021 was contributed by food and non-alcoholic beverages, housing, water electricity and gas, and transport.

He said inflation for locally produced items continued the dominance over inflation for imported items, by widening the gap between the two.

Inflation for locally produced items was 9.4 percent while inflation for imported items was at 7.1 percent.

Greater Accra's persistent record of highest inflation for 16 consecutive months was halted as Upper West and Northern regions recorded the highest overall inflation of 13.8 percent and 13.5 respectively.

Credit: GNA



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