The annual inflation rate in Ghana eased to 18.40 percent in June of 2016, from 18.9 percent in the previous month. It was the lowest reading since December of 2015, as stability of cedi led to slower rise in cost of fuel and imported items.
Compared to June 2015, prices rose at slower pace for transport (40.3 percent from 40.9 percent); housing and utilities (32.8 percent from 35.7 percent), while cost of food and non-alcoholic beverages went up at faster pace(8.6 percent from 8.5 percent in May). Other contributors to the rise: clothing and footwear (22.6 percent from 22.8 percent); recreation and culture (27.4 percent from 27.9 percent); furnishings and household items (21.4 percent from 21.8 percent); education (33.3 percent from 32.3 percent); miscellaneous goods and services (15.5 percent from 15.4 percent); health (13.9 percent from 13.9 percent); hotels, cafes and restaurants (14.9 percent from 14.4 percent) and communication (12.5 percent from 13.3 percent).
On a monthly basis, consumer prices increased 1.3 percent, following a 1.1 percent rise in May. Food prices went up by 1.5 percent, housing and utilities rose by 0.9 percent, transport increased by 1.1 percent.