Inflation up 9.4% in December

Mr David Kombat

Mr David Kombat

Inflation for December 2018 soared up by 0.1 percentage point to 9.4 per cent from 9.3 per cent recorded in November 2018, the Ghana Statistical Service (GSS) has announced.

This was as a result of a rise in prices of non-food items including transport, recreation and culture, clothing and footwear, housing and other goods and services.

The monthly change rate December 2018 was 1.1 per cent, compared with 0.7 per cent recorded in November 2018, according to Mr David Kombat, the Acting Government Statistician.

Addressing a news conference in Accra yesterday, he said the year-on-year non-food inflation rate for December 2018 was 9.8 per cent compared with the rate of 9.7 per cent recorded in November 2018.

He explained that the  main price drivers for the non- inflation rate were transport which was 13.6 per cent ; recreation and culture , 13.2 per cent and  clothing and footwear, 13 per cent.

Other drivers, he pointed out were furnishing, household equipment and routine maintenance which was 11.6 per cent and miscellaneous goods and services pegged at 10 per cent.

Mr Kombat disclosed that year-on-year food inflation rate for December 2018 was 8.7 per cent as against 8.6 per cent recorded in November 2018 with factors driving the change including coffee, tea and cocoa being 13.5 per cent.

Other factors included fruits, 11.4 per cent; meat and meat products, 10.9 per cent and mineral water, soft drinks, fruits and vegetable juices recording 9.2 per cent.

Mr Kombat pointed out that the year-on-year non-food inflation rate was 11 per cent points higher that the food inflation rate while the year-on-year inflation rate for imported items of 11.1 per cent, was 2.4 per cent points higher than that of the locally produced items of 8.7 per cent.

The statistician said five regions, Upper West, Brong Ahafo, Western, Ashanti and Northern, recorded inflation rates above the national average of 9.4 per cent.

“Upper West Region recorded the highest year-on year inflation rate of 11.4 per cent followed by Brong Ahafo, 10.3 per cent, while the Upper East Region recorded the lower year-on-year inflation rate of 7.5 in December 2018,” he said.

The Consumer Price Index (CPI) measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption.

By Jonathan Donkor

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