Ghana’s inflation for November increases to 8.2 percent

The year-on-year inflation rate in Ghana according to the Ghana Statistical Service (GSS) has increased to 8.2 percent in November 2019.

Ghana’s inflation for November increases to 8.2 percent

This represents a 0.5 percent increase from the 7.7 percent recorded in October, the highest since the rebased Consumer Price Index three months ago.

According to the GSS, Alcoholic Beverages, Tobacco & Narcotics (13.4%) and Transport (12.3%) were the divisions with the highest rates of inflation.

But due to its relative importance in consumption, the food category is still the main driver of inflation in Ghana – even more so than last month.

The Food and Non-alcoholic beverages division recorded a year-on-year inflation rate of 8.4%.

This is 1.4 percentage points higher than the October 2019 rate of 7.0%.

Fruits and Nuts (17.1%); Ready-made food (12.7%); Cocoa drinks (12.6%); Fruits and vegetables (12.3%); Coffee and coffee substitutes (12.2%) and vegetables (9.2%) registered inflation rate higher than the national average.

However, the Non-food year-on-year inflation for November 2019 was 8.0%, down from the 8.2% recorded in October 2019.

Inflation for locally-produced items was 8.4% while inflation for imported items was 7.5%.

For the regions, Greater Accra (12.8%), Central (10.0%) and Volta (9.5%) recorded inflation rates above the national average of 8.2%.

The Upper East Region, however, recorded the lowest year-on-year inflation rate of 3.5%.

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