Monday , April 23 2018 6:53 pm
Home / Business / Inflation rate for November eases to 15.5 per cent

Inflation rate for November eases to 15.5 per cent

The year-on-year inflation rate for November 2016 fell to 15.5 per cent compared with the 15.8 per cent recorded in October 2016.

The Acting Government Statistician, Mr Baah Wadieh, 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 the non-food inflation rate 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 by mineral water, soft drinks, fruit and vegetable juices, coffee, tea and cocoa and fish and sea foods.

The monthly change 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, 1.0 percentage point higher than that of locally produced items of 15.2 per cent.

Two regions, Greater Accra and Ashanti, recorded inflation rates higher than the national average of 15.5 per cent.

The Greater Accra Region recorded the highest year-on-year inflation rate of 18.1 per cent, followed by the Ashanti Region with 15.8 per cent while the Volta Region recorded the lowest rate of 13.1 per cent.

ahotoronline.com|Ghana

Check Also

Ethiopia overtakes Ghana as Africa’s fastest growing economy

Ghana has lost its mantle as the African economy likely to grow the quickest this …

My ‘monster’ business will succeed even in my absence – Ibrahim Mahama

Chief Executive Officer of Engineers and Planners, Mr. Ibrahim Mahama has said he has been …

I’m being blackmailed – Metro Mass MD

The Managing Director of the Metro Mass Transit Limited Bennet Aboagye has strongly dismissed allegations …

Leave Your Comment

%d bloggers like this: