Prof Samuel Annim, Govt Statistician
CONSUMER Price Inflation (CPI) went up to 50.3 per cent in November, the latest data from the Ghana Statistical Service (GSS) has indicated.
The new rate represents a 9.9 per cent increment from October’s rate of 43.7% making it the highest figure recorded in 27 years.
According to the figures, food inflation recorded 55.3 per cent, as non-food inflation also shot up by 7.2% to 46.5 per cent in November 2022.
Inflation for locally produced items also stood at 48.3 per cent, whilst inflation for imported items was 55.1 per cent in November 2022.
Housing, water, gas, electricity and others, recorded inflation rate of 79.1 per cent while furnishings and household equipment recorded 65.7 per cent inflation as transport recorded 63.1 per cent.
Personal care, social protection and miscellaneous services recorded a 56.3 per cent inflation as food and non-alcoholic beverages recorded a 55.3 per cent, all higher than the national average.
The change was anticipated because of fuel price increases and the cedi’s depreciation during the month under review.
However, the GSS observed that the trend might halt or reverse in December 2022 due to the recent improvement in the value of the cedi to the dollar and the fall in fuel prices.
For food, eight sub-classes recorded inflation rates higher than the national average. These include water 93.2 per cent; milk, other dairy products and eggs 75.4 per cent; fruit and vegetable juices 73.1 per cent sugar and confectionary and desserts 70.0 per cent.
Eastern Region recorded the highest inflation rate of 63.3 per cent followed by the Greater Accra Region with an inflation rate of 61.6 per cent and Bono Region with a rate of 53.6 per cent.
The region with the least inflation rate was Upper West with a rate of 35.6 per cent.
BY Jamila Akweley Okertchiri