Inflation Hits 19%


inflation



Year-on-year inflation rate for January 2016 was 19 percent up from 17.7 percent recorded in December 2015.

The monthly change rate in January 2016 was 4.6 percent compared to 1.1 percent recorded in December 2015.

This means that the general price level went up by 4.6 percent between December 2015 and January 2016.

The food inflation rate for January 2016 was 8.2 percent compared to 8.0 percent recorded in December 2015 while the non-food inflation rate for January 2016 was 25.5 percent compared to 23.3 percent recorded in December 2015.

Baah Wadieh, Deputy Government Statistician, who addressed a press conference in Accra yesterday, explained that the main “price drivers” for the non-food inflation rate were housing, water, electricity, gas and other fuels (45.5 percent) and transport (30.8 percent).

He said the “price drivers” for the food inflation rate were coffee, tea and cocoa (11.4 percent), mineral water, soft drinks, fruit and vegetable juices (11.3 percent), sugar, jam, honey, chocolate and confectionery (10.5 percent), food products (10.5 percent) and vegetables (9.5 percent).


.

Mr. Wadieh said the inflation rate for imported items was 18.7 percent in January 2016 compared to 18.3 percent recorded in December 2015 while inflation rate for locally produced items was 19.1 percent in January 2016 compared to 17.5 percent recorded in December 2015.

He said Greater Accra Region recorded the highest combined inflation rate, highest non-food inflation rate and the highest food inflation rate in January 2016 while the Upper East Region recorded the lowest (14.1 percent).

[email protected]

Cephas Larbi

 

 



Comments