Inflation for December 2018 increased from 9.3% to 9.4%



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The Consumer Price Index (CPI) measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption with reference to the price level in 2012. 

It is measured in two ways which include annual and monthly. Monthly change rate measures the change in the average price level between the current month and the previous month whiles the annual rate is the measure of a twelve-month period.

The year –on year inflation for December 2018 increased to 9.4% compared with 9.3% in November 2018. 

The monthly change rate in December 2018 was 1.1 per cent as against 0.7 per cent in November 2018.

According to the Acting Government Statistician, David Kombat, the slight increase in inflation for December can be attributed to the marginal increment in transport fares and spare parts.

The main price drivers for the food inflation rate were Coffee, tea and cocoa which recorded 13.5%, whiles Fruits 11.4 %, Meat products 10.9 % and Mineral water, soft drinks, fruit and vegetable juices 9.2%.

Meanwhile, five regions Upper West, Being Ahafo, Western, Ashanti and Northern recorded inflation rates above the national average of 9.4 per cent.

The Upper West region recorded the highest year-on-year inflation rate of 11.4%, followed by the Brong Ahafo region, while the Upper East region recorded the lowest year-on-year inflation rate of 7.5% in December 2018.

Ghana | Atinkaonline.com