Inflation rate saw a marginal increase of 0.1 percent to 17.7 percent in December compared with the 17.6 percent recorded in the previous month.

The monthly change rate in December 2015 was 1.1 percent while that for November 2015 was 1.0 percent. The year-on-year non-food inflation rate for December 2015 was 23.3 percent compared with the 23.2 percent recorded in November 2015.

The year-on-year food inflation rate for December 2015 was estimated to be at 8.0 percent, compared with the 7.9 percent recorded for November 2015.

The Ashanti, Greater Accra and Upper West regions recorded inflation rates higher than the national average of 17.7 percent.

Ashanti Region recorded the highest year-on-year inflation rate of 19.2 percent whilst Upper East recorded the lowest of 13.7 percent in the month under review.

The year-on-year non-food inflation rate which stood at 23.3 percent was about three times higher than the food inflation rate which is estimated to be at 8.0 percent. The year-on-year inflation rate for imported items stood at 18.3 percent for December 2015, 0.8 percentage point higher than that of locally produced items pegged at 17.5 percent.

The main “price drivers” for the non-food inflation rate were transport which stood at 27 percent, recreation and culture at 26.9 percent, education at 26.8 percent, furnishings, household equipment and routine maintenance 25.8 percent, housing, water, electricity, gas and other fuels 24.3 percent and clothing as well as footwear at 24.1 percent.

The “price drivers” for the food inflation rate were vegetable which is estimated to be at 13.3 percent and mineral water, soft drinks, fruit and vegetable juices at 10.6 percent.