Accra, GNA - The annual rate of inflation continues its steady climb closing the month of June 2008 at 18.41 per cent compared to 16.88 per cent in May.
The change in the monthly consumer price index between May and June, however, declined at 2.06 per cent, the first time since the beginning of the year. That for May 2008 was 3.20 per cent.
Dr. Grace Bediako, Government Statisticians, told a press conference that the systematic increase was due to the global oil crisis, which had resulted in rising prices of food items.
"If there is no significant change in the global market trends, we are likely to see further increases in the rate of inflation," she said.
The non-food group remained the largest contributor to inflation, accounting for 10.44 percentage points to the rate of inflation in June compared to the food group that contributed 7.97 percentage points.
Fish and cereal, hotels, cafes and restaurants, transport are among the subgroups which contributed more than one percentage point to the annual rate of inflation.
Dr. Bediako said trends over the years showed that highest inflation rates were recorded between the months of June and July.
She said the pattern showed that rural inflation was on the rise, reaching 23.84 per cent with urban inflation on the decline.
On regional inflation trends, Dr Bediako said six regions recorded rates above the national average.
Eastern Region experienced the highest inflation followed by Northern Region.
Greater Accra region had the lowest for the period.
GNA