Ghana: Inflation rate climbs to 15%

Ghana’s annual consumer price inflation rose to a four-year high of 15 percent last month from 14.8 percent in May, the national statistics office said yesterday. The rise pushed the rate further past Ghana’s target for the year of 9.5 percent plus or minus 2 percentage points. The main inflation driver was the housing, water, electricity, gas and other fuels category, which recorded an annual rate of 53.6 percent, chief statistician Philomena Nyarko said. The government cut fuel and utilities subsidies last year. Transport costs rose 24.6 percent, and non-alcoholic cold beverages rose 21.7 percent. – Reuters