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Ghana records inflation rate of 9.4% at the end of December 2018

Ghana recorded its inflation rate at 9.4% at the end of December 2018 as compared to the 9.3% recorded in November 2018.

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

made this revelation on Wednesday, January 9, 2019, at a press conference.

Revealed by the Ghana Statistical Service at a press conference, the Acting Government Statistician, Mr David Kombat told reporters that the monthly change rate for December 2018 was 1.1% compared with 0.7% recorded for November 2018.

He said the food and non-alcoholic beverage group recorded a year-on-year inflation rate of 8.7% compared to the 8.5% 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%.

The non-food group recorded a year-on-year inflation rate of 9.8% in December 2018, up from 9.7% 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%,” he added.

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