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Inflation drops to 15.4 percent in December 2016

inflation 2

Ghana’s inflation for December 2016, reached 15.4 percent.

The figure represents a drop from the 15.5 percent recorded in November 2016.

The monthly change rate in December 2016 was 0.9 percent compared to 0.8 percent recorded a month earlier.

According to figures released by the Ghana Statistical Service, the year-on-year food inflation rate for December 2016 was 9.7%, compared with 9.3% recorded in November 2016.

The “price drivers” for the food inflation rate were Meat and meat products (15.0%), Coffee, tea and cocoa (14.0%), Fish and sea food (13.9%), Mineral water, soft drinks, fruit and vegetable juices (12.2%), Sugar, jam, honey, chocolate and confectionery (12.0%).

But the year-on-year non-food inflation rate for December 2016 was 18.2% compared with the 18.7% recorded in November 2016.

The  main “price drivers”for the non-food inflation rate were Transport (27.2%), Education (23.4%), Recreation and culture (20.3%), Housing, water, electricity, gas and other fuels (20.2%), Furnishings, household equipment and routine maintenance (18.8%) and Health (18.5%) .

Meanwhile the Greater Accra Region recorded the highest year-on-year inflation rate of 18.2%, followed by the Ashanti and Brong Ahafo regions with 15.5%.

The Volta and Northern regions however recorded the lowest inflation rate of 13 percent.

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

Ghana Business News