Wednesday , August 15 2018 8:32 am
Home / Business / Inflation Rate falls to 13.3 per cent in January

Inflation Rate falls to 13.3 per cent in January

The year-on-year inflation rate for January 2017 fell to 13.3 per cent, down 2.1 percentage points from 15.4 per cent in December 2016.

The rate of 13.3 per cent is the lowest since December 2013.

The monthly change rate in January 2017 was 2.8 per cent compared to the 0.9 per cent recorded for December 2016.

The Acting Government Statistician, Mr Baah Wadieh at a press briefing in Accra, attributed the fall of the rate to lower non-food inflation and the base drift effect.

The year-on-year non-food inflation rate for January 2017 was 16.6 per cent compared to 18.2 per cent in December 2017.

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

The food group inflation rate stood at seven per cent with meat and meat products, coffee, tea and cocoa, fish and sea food, mineral water, chocolate and confectionary as the major drivers.

The year-on-year inflation rate for imported items was 15.4 per cent in January 2017 was 2.9 percentage points higher than that of locally produced items of 12.5 per cent.

Five regions, Greater Accra, Brong- Ahafo, Ashanti and western as well Upper West regions recorded inflation rates higher than the national average of 13.3 per cent.

The Upper West Region recorded the highest year-on-year inflation rate of 13.3 per cent, followed by the Greater Accra Region with 13.9 per cent while the Volta Region regions recorded the lowest rate of 11.6 per cent.

 

ahotoronline|Ghana

Check Also

Retract, apologise or I sue – Mac Manu to GPHA union chair

Lawyers of Mr Peter Mac Manu, AB Lexmall Associates, have written to the Chairman of …

Breakdown cost elements of $293m Ghana Card- STRANEK

As a can of issues are opened up day after day on the Ghana Card …

Kelni GVG will spy on Ghanaians – Telecoms Chamber

Telecommunications companies in the country are rejecting the Kelni GVG monitoring platform stating that it …

Leave Your Comment

%d bloggers like this: