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Ghana’s Inflation Rate rises to 9.5% in July

The Ghana Statistical Service (GSS) announced on August 15, 2012, that the annual inflation rate in July rose to 9.5% from the 9.4% recorded in June.

Mr Magnus Ebo Duncan, Head of Economics Statistics, GSS, attributed the inflation increase on the depreciation of the cedi against the dollar which contributed to the inflation rate in imported food items.

“The exchange rate depreciation has made some imported foods more expensive and their weight on inflation is huge,” Mr Duncan said.

Find below the inflation rate since January 2012

January – 8.70%
February – 8.605
March – 8.80%
April – 9.10%
May – 9.30%
June – 9.40%

Via GBC


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