Inflation drop
January 2018 witnessed a decline in year-on-year inflation rate of 10.3 percent from the 11.8 percent recorded in December 2017, representing a 1.5 percentage points change.
Acting Government Statistician, Baah Wadieh, who made this known to the media on Wednesday in Accra, said the Consumer Price Index (CPI) monthly change rate for January 2018 was 1.4 percent compared to the 1.0 percent recorded for December 2017.
The CPI measures the change over the time in the general price level of goods and services that households acquire for the purpose of consumption, with reference to the price level in 2012, the base year, which has an index of 100.
Mr Wadieh indicated that food and non-alcoholic beverages group recorded a year-on-year inflation rate of 6.8 percent.
“This is 1.2 percentage points lower than the rate recorded in December 2017,” according to him.
Six subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 6.8 percent.
The year-on-year non-food inflation rate for January 2018 was 12.0 percent compared to 13. 6 percent recorded in December 2017.
At the regional level, the statistician said the year-on-year inflation rate ranged from 7.8 percent in Upper East Region to 12.1 percent in Upper West region.
Four regions namely Upper West, Brong Ahafo, Ashanti, and Greater Accra, he said, recorded inflation rates above the national average rate of 10.3 percent, saying Upper East Region recorded the lowest inflation rate of 7.8 percent.
Imported items during the period under review recorded a higher inflation rate of 11.8 percent, representing 2.1 percentage points higher than that of locally produced items, which recorded 9.7 percent.
By Melvin Tarlue