Inflation for the month of December 2019, declined to 7.9 percent beating the end-year target the Finance Minister announced in the mid-year budget.
Mr. Ofori-Atta had set the government’s sights on achieving an end-year inflation rate of 8 percent.
But inflation slowed from 8.2 percent in November 2019, to close the year within the government’s benchmark.
The government statistician, Kobina Annim, explained that the December inflation was driven by a relatively lower year-on-year inflation of food and non-alcoholic prices which measured at 7.2 percent.
The development means that on average, the general prices of goods and services over the 12 month period remained within the government’s projections.
Greater Accra Region had the highest inflation rate at 12 percent, while inflation remained lowest in the Ashanti Region with 5 percent year-on-year inflation.