Consumer Price Index Inflation for December drops by 0.01%

The year-on-year inflation rate as measured by the CPI stood at 15.4% in December 2016, down by 0.1% point from the 15.5% recorded in October 2016.

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The Ghana Statistical Service has revealed that the Consumer price inflation rate for December 2016 has dropped to 15.4%.

In November 2016, the inflation rate was 15.5%.

The inflation rate for two groups, food and non-food, contributed to the decline of inflation in December 2016.

The food inflation rate for December 2016 was 9.7% (compared with 9.3% recorded in November 2016).

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However, the non-food inflation rate for December 2016  was 18.2% (compared with 18.7% recorded in November 2016).

The year-on-year inflation rate as measured by the CPI stood at 15.4% in December 2016, down by 0.1% point from the 15.5% recorded in October 2016.

The year-on-year inflation rate for imported items (15.7%) was 0.5 percentage point higher than that of locally produced items (15.2%).

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The  main “price drivers”* for the non-food inflation rate were Transport (27.2%), Education (23.4%), Recreation and culture (20.3%), Housing, water, electricity, gas and other fuels (20.2%), Furnishings, household equipment and routine maintenance (18.8%) and Health (18.5%) .

The “price drivers” for the food inflation rate were Meat and meat products (15.0%), Coffee, tea and cocoa (14.0%), Fish and sea food (13.9%), Mineral water, soft drinks, fruit and vegetable juices (12.2%), Sugar, jam, honey, chocolate and confectionery (12.0%).

The acting government statistician, Baah Wadieh said Greater Accra Region recorded the highest combined inflation rate and the highest non-food inflation rate while the Western region recorded the highest food inflation rate in December 2016.

Read full report here Inflation for December 2016 drops

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