Inflation for the month of July has recorded another marginal decline for this year. It stood at 8.3 percent down from the June figure of 8.5 percent. This is the lowest since June 1992 figure of 8.3 percent.
The service attributes the decline to a marginal drop in the price levels of foodstuffs.
Head of Economic Statistics Ebo Duncan explained to Joy Business what is accounting for the decline. “The food inflation has been very low and now it is around 3.25.” he said, adding the non food has been relatively stable.
He attributed the stability of the non-food products to stability of the cedi, import prices, etc. Mr. Duncan added that looking at the inflation trend government might achieve it end of year target of 9.5 percent.
Source: Joy Business
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