GHANA’S INFLATION RATE EASES TO ANNUALISED 15.5 PCT IN NOVEMBER

Ghana’s inflation rate has eased to an annualised rate of 15.5 per cent in November compared with 15.8 per cent recorded in October, says Acting Government Statistician Baah Wadieh.

Announcing the latest inflation data here Wednesday, he attributed the easing of the rate to lower non-food inflation and the base drift effect. The year-on-year non-food inflation rate for November 2016 stood at 18.7 per cent compared with 19.4 per cent in October.

The main price drivers for non-food inflation include transport, education, recreation and culture, housing, water, electricity, gas and other fuels.

The year-on-year food inflation rate for November was 9.3 per cent, up from 8.7 per cent recorded in October 2016, driven mainly by higher prices for mineral water, soft drinks, fruit and vegetable juices, coffee, tea and cocoa and fish and sea foods.

The monthly change in the food inflation rate in November 2016 was 0.8 per cent while that for October 2016 stood at 1.4 per cent.

The year-on-year inflation rate for imported items stood at 16.2 per cent, one percentage point higher than the rate for locally produced items at 15.2 per cent.

Two regions (provinces), Greater Accra and Ashanti, recorded inflation rates higher than the national average of 15.5 per cent in November with Greater Accra Region recording the highest year-on-year inflation rate of 18.1 per cent, followed by the Ashanti Region with 15.8 per cent while Volta Region recorded the lowest rate of 13.1 per cent.

Source: NAM NEWS NETWORK

   

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