Inflation for November drops to 15.5%

The Consumer price inflation rate for November 2016 has dropped to 15.5%, the Ghana Statistical Service has said.

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

The year-on-year inflation rate as measured by the CPI stood at 15.5 percent in November 2016, down by 0.3 percentage point from the 15.8 percent recorded in October 2016.

The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 9.3 percent. This is 0.6 percentage point higher than the rate recorded in October 2016.

Five subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 9.3 percent.

The non-food group recorded a year-on-year inflation rate of 18.7 percent in November 2016, compared to the 19.4 percent recorded for October 2016.

The acting government statistician, Baah Wadieh at a press conference in Accra on Wednesday, 14 December, 2016, said, at the regional level, the year-on-year inflation rate ranged from 13.1 percent in the Volta Region to 18.1 percent in the Greater Accra Region.

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