2021 ended with 12.6% inflation rate – Ghana Statistical Service

The Ghana Statistical Service (GSS) has revealed that the country’s inflation at the end of December 2021 was at 12.6%.

Government Statistician Professor Samuel Kobina Annim

According to the GSS, the national year-on-year inflation rate was 12.6% in December 2021, which is 0.4 percentage points higher than the 12.2% recorded in November 2021.

Month-on-month (November 2021 – December 2021) inflation was 1.2%.

Government Statistician, Professor Samuel Kobina Annim, told reporters in Accra on Wednesday, January 12, the rate exceeded the finance ministry’s forecast of 8 percent.

“This is the sixth consecutive month in a roll that prices of goods and services have gone up, indicating a 4.8 percentage difference between the rates recorded in June 2021 which was 7.8 percent relative to December 2021 which was 12.6 percent."

The gap between food and non-food items has reduced to a 0.3 percentage point difference; that is 12.8% versus 12.5%, respectively.

There was parity in the month-on-month food and non-food inflation this month (1.2% vs1.2%).

Housing and transport, which include fuel, recorded the highest inflation rates of 20.7% and 17.6%, respectively.

The contribution of food and non-alcoholic beverages to the overall inflation saw a marginal decline from 47.7% in November to 45.2% in December.

Inflation for locally produced items continues to dominate imported items.

The inflation rate for the Upper West region remains high with the Eastern region recording the least.

The Ashanti region has overtaken the Northern region as the second highest.

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