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Page last updated at Wednesday, June 15, 2011 15:15 PM //
Ghana’s inflation rate continues its downward trend for the third time this year. The rate for May stands at 8.90%, the Ghana Statistical Service (GSS) has announced in Accra Wednesday June 15, 2011.
The rate is lower than the April rate of 9.02% and that of March which was 9.13%.
The Government Statistician, Dr. Grace Bediako told reporters that the inflation rate fell by 0.12% points.
The downward trend in inflation can be attributed more to the food and non-alcoholic beverages group than the non-food group, Dr. Bediako said.
“General food prices declined during the month”, she said.
Dr. Bediako said if the trend continues, inflation will “go down” and single digit will “still remain in the future”.
By Ekow Quandzie
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Ghana Statistical Service puts May inflation rate at 8.90%