The annual inflation rate in Ghana edged down to 9.4 percent in May 2019 from 9.5 percent in the previous month. Prices slowed for food while continued to rise for non-food products.

Year-on-year, inflation softened for food & non-alcoholic beverages

(6.7 percent vs 7.3 percent in April), in particular milk, cheese and eggs (3.7 percent vs 5.8 percent); cereals & cereal products (4.7 percent vs 6.8 percent); oils & fats (5.2 percent vs 7.3 percent); fish and sea food (5.9 percent vs 7 percent); meat and meat products (7.3 percent vs 8.8 percent) and mineral water, soft drinks, fruit and vegetable juices (8 percent vs 8.8 percent).

On the other hand, prices rose at a quicker pace for non-food items
(10.6 percent vs 10.4 percent), driven by housing & utilities (6.5 percent vs 6.0 percent); clothing & footwear (15 percent vs 14.3 percent); furnishings (14.5 percent vs 12.8 percent); recreation & culture (15 percent vs 14.1 percent); health (7.1 percent vs 5.9 percent) and alcoholic beverages & tobacco (9.5 percent vs 8.7 percent). Meanwhile, cost slowed for transport (12.5 percent vs 13.2 percent); miscellaneous goods & services (9.5 percent vs 10 percent); hotels, cafes & restaurants (7.2 percent vs 8.1 percent); education (6.2 percent vs 7.8 percent) and communication (6.1 percent vs 6.7 percent).
On a monthly basis, consumer prices went up 0.9 percent, following a 1.1 percent rise in the preceding month.

Credit: tradingeconomics
(By Luisa Carvalho)