
Audio By Carbonatix
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. According to the Government Statistician, Professor Samuel Kobina Annim, apart from food inflation dominating the rate, housing and transportation also recorded a marginal change during the period.“The national year-on-year inflation rate was 7.9% in December 2019, .3 percentage points lower than the 8.2% recorded in November 2019. Month-on-month inflation between November 2019 and December 2019 was.3%. Alcoholic Beverages, Tobacco & Narcotics (13.5%), Transport (11.0%), and Housing (10.5%) were the Divisions with the highest rates of inflation. Due to its relative importance in consumption, Food is the main driver of inflation in Ghana, but less than last month” he notes.The Consumer Price Index (CPI) measures changes in the prices of a ï¬xed basket of goods and services that households in Ghana consume. This index is then referenced to thepricelevelin2018, the base year which has an index of 100. Relative changes in this index can be expressed as inflation.Food and Non-food The Food and Non-alcoholic beverages Division recorded a year-on-year inflation rate of 7.2%. This is 1.2 percentage points lower than what was recorded in November 2019(8.4%). Theh national non-food year-on-year inflation for December 2019 was 8.5%, up from 8.0% recorded in November 2019. Between November 2019 and December 2019 the price level of Food and Non-alcoholic beverages went down slightly (-.6%).This fall is predominantly driven by a decrease in price levels of Vegetables and Fish.This stands, in contrast, the increase in Food inflation between October 2019 and November 2019(+1.1%). Non-food sub classes with the highest year-on-year inflation include Other transport services (34.5%), Postal and courier services (31.5%), Narcotics (28.1%), and Garden products (24.7%). Maintenance and repair of personal transport equipment (-10.6%), Education (not deï¬ned by level) (-8.1%),Cars (-2.3%), Sound equipment(-2.3%), and Electric appliances for personal care(-2.2%)had negative year-on-year inflation rates.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
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
SEC gives online investment platforms until August 31 to register or risk sanctions
5 minutes -
Weija-Gbawe eye surgery programme restores sight for second cohort of beneficiaries
19 minutes -
England Applied for Goals. Ghana Requested Additional Documentation…
22 minutes -
31st December Market redevelopment to proceed despite traders’ concerns
39 minutes -
MP cuts sod for ultra-modern clinic project in Yaala No. 2
40 minutes -
Ginger prices to remain high for two years – expert warns
1 hour -
Prisons officer interdicted for attempting to smuggle Indian hemp into Kete-Krachi facility
1 hour -
Today’s front pages: Wednesday, June 24, 2026
2 hours -
GES to announce shortlisted recruitment candidates by July 20
2 hours -
Paul Afoko denies involvement in Adams Mahama’s death, calls for NPP unity ahead of delegates conference
2 hours -
Ghanaian regulators look to Malaysia’s success as non-interest finance framework takes shape
2 hours -
Telecel Ghana strengthens cash agent partnerships in Ashanti Region
3 hours -
Telecel introduces monthly cash winners in Dream Car Promo
4 hours -
Burna Boy becomes African artiste with most Billboard Hot 100 entries
4 hours -
Chinese takeover of Atlantic Lithium threatens key pillars of Ghanaian participation in Ewoyaa
4 hours