{"id":778798,"date":"2020-01-08T20:23:21","date_gmt":"2020-01-08T20:23:21","guid":{"rendered":"https:\/\/ghana-mma.com\/2020\/01\/08\/inflation-for-december-2019-falls-to-7-9\/"},"modified":"2020-01-08T20:23:21","modified_gmt":"2020-01-08T20:23:21","slug":"inflation-for-december-2019-falls-to-7-9","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/01\/08\/inflation-for-december-2019-falls-to-7-9\/","title":{"rendered":"Inflation for December 2019 falls to 7.9%"},"content":{"rendered":"

<\/p>\n

\n
\n
\"\"
<\/figure>\n<\/div>\n

Continuous reduction of food prices in the last quarter of 2019 has
\ninfluenced a marginal drop in inflation for December 2019, the Ghana
\nStatistical Service has said.<\/p>\n

The national year-on-year inflation rate recorded for the month is a
\nreduction of 0.3 percentage points from the rate recorded in November of
\n the same year.\u00a0<\/p>\n

According to the Government Statistician, Professor Samuel Kobina
\nAnnim, apart from food inflation dominating the rate, housing and
\ntransportation also recorded a marginal change during the period.<\/p>\n

\u201cThe national year-on-year in\ufb02ation rate was 7.9% in December 2019,
\n.3 percentage points lower than the 8.2% recorded in November
\n2019.\u00a0\u00a0Month-on-month in\ufb02ation between November 2019 and December 2019
\nwas.3%.\u00a0<\/p>\n

Alcoholic Beverages, Tobacco & Narcotics (13.5%), Transport
\n(11.0%), and Housing (10.5%) were the Divisions with the highest rates
\nof in\ufb02ation.\u00a0Due to its relative importance in consumption, Food is the
\nmain driver of in\ufb02ation in Ghana, but less than last month\u201d he notes.<\/p>\n

The Consumer Price Index (CPI) measures changes in the prices of a
\n\ufb01xed basket of goods and services that households in Ghana consume. This
\n index is then referenced to thepricelevelin2018, the base year which
\nhas an index of 100. Relative changes in this index can be expressed as
\nin\ufb02ation.<\/p>\n

Food and Non-food\u00a0<\/strong><\/p>\n

The Food and Non-alcoholic beverages Division recorded a year-on-year
\n in\ufb02ation rate of 7.2%. This is 1.2 percentage points lower than what
\nwas recorded in November 2019(8.4%).\u00a0<\/p>\n

Theh national non-food year-on-year in\ufb02ation for December 2019 was
\n8.5%, up from 8.0% recorded in November 2019.\u00a0Between November 2019 and
\nDecember 2019 the price level of Food and Non-alcoholic beverages went
\ndown slightly (-.6%).<\/p>\n

This fall is predominantly driven by a decrease in price levels of Vegetables and Fish.<\/p>\n

This stands, in contrast, the increase in Food in\ufb02ation between October 2019 and November 2019(+1.1%).\u00a0<\/p>\n

Non-food sub classes with the highest year-on-year in\ufb02ation include
\nOther transport services (34.5%), Postal and courier services (31.5%),
\nNarcotics (28.1%), and Garden products (24.7%).\u00a0<\/p>\n

Maintenance and repair of personal transport equipment (-10.6%),
\nEducation (not de\ufb01ned by level) (-8.1%),Cars (-2.3%), Sound
\nequipment(-2.3%), and Electric appliances for personal care(-2.2%)had
\nnegative year-on-year in\ufb02ation rates.<\/p>\n

At the regional level, the year-on-year inflation ranged from 5.0% in the Ashanti Region to 12.0% in the Greater Accra Region.<\/p>\n

Source: Joy Business<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Continuous reduction of food prices in the last quarter of 2019 has influenced a marginal drop in inflation for December 2019, the Ghana Statistical Service has said. The national year-on-year inflation rate recorded for the month is a reduction of 0.3 percentage points from the rate recorded in November of the same year.\u00a0 According to […]<\/p>\n","protected":false},"author":1,"featured_media":778799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-778798","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nInflation for December 2019 falls to 7.9% - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/01\/08\/inflation-for-december-2019-falls-to-7-9\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Inflation for December 2019 falls to 7.9% - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Continuous reduction of food prices in the last quarter of 2019 has influenced a marginal drop in inflation for December 2019, the Ghana Statistical Service has said. 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