Ghana’s inflation rate rose by 9.4 per cent at the end of 2018

Gnana recorded its inflation rate at 9.4 per cent at the end of December 2018 as compared to the 9.3 per cent recorded in November 2018.

Minister of Finance; Ken Ofori Atta

This indicated that the country had a rise in the inflation rate of up to 0.1 per cent.

The Ghana Statistical Service made this revelation on Wednesday, January 9, 2019, at a press conference.

The Acting Government Statistician, Mr David Kombat told reporters that the monthly change rate for December 2018 was 1.1 per cent compared with 0.7 per cent recorded for November 2018.

He said the food and non-alcoholic beverage group recorded a year-on-year inflation rate of 8.7 per cent compared to the 8.5 per cent recorded in November 2018.

He said four sub-groups of the food and non-alcoholic beverages group- coffee, tea and cocoa; fruits, meat and meat products; mineral water, soft drinks, fruit and vegetable juices recorded inflation rates higher than the group’s average rate of 8.7 per cent.

The non-food group recorded a year-on-year inflation rate of 9.8 per cent in December 2018, up from 9.7 per cent in November.

“Five sub-groups of the non-food group, including transport, recreation and culture; clothing and footwear recorded year-on-year inflation rates higher than the group’s average rate of 9.8 per cent,” he added.

However, the Housing, Water, Electricity, Gas and other Fuels subgroup recorded the lowest inflation rate.

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