Vision1 FM                       Light FM                         Light TV

January Inflation declines to 10.3%

Inflation rate for January has seen a decline to 10.3 percent from the 11.8 percent recorded in December 2017. The figure represents a 1.5 percentage point drop.

 



Inflation measures the rate of change in prices of goods and services over a period of time, and affects the purchasing power of consumers.

Speaking at a press conference, Acting Government Statistician, Baah Wadieh attributed the decrease in the January inflation to a general reduction in the food and non-food inflation components, as well as a base drift effect.

“The food and the non-alcoholic beverages group recorded a year on year rate of 6.8 percent. This is 1.2. percentage points lower than the rate recorded in December 2017,” he said.

He explained that six groups of the food and non-alcoholic beverages group recorded inflation higher than the group’s average rate of 6.8 percent.

He stated that the Non-Food group recorded a year on year inflation rate of 12.0 percent in January 2018, compared to the 13.6 percent recorded for December 2017.

Meanwhile at the regional level, Mr. Wadieh announced that the Ashanti region recorded the highest food inflation rate.



source: Lawrence Segbefia/citibusinessnews.com

More Lifestyle..

Asante Kotoko pulls a win over Wafa. Asante Kotoko pulls a win over Wafa. 2018-11-19 -  Match report : Asante Kotoko  pip WAFA as Amos Frimpong misses...
Menzgold to be grab by BNI- Finance Minister. Menzgold to be grab by BNI- Finance Minister. 2018-11-19 - Finance Minister, Ken Ofori-Atta has hinted that the Bureau of...
Jordan Ayew improves Ghana's chances of qualifying for AFCON 2019. Jordan Ayew improves Ghana's chances of qualifying for AFCON 2019. 2018-11-19 - Jordan Ayew's appearance since 2017 gave a victory win to the...
Black Stars to leave Kenya for Addis Ababa today. Black Stars to leave Kenya for Addis Ababa today. 2018-11-16 - The Black Stars of Ghana will fly out to Addis Ababa later today...
GHC180 given to the Office of the Special Prosecutor to fight corruption. GHC180 given to the Office of the Special Prosecutor to fight corruption. 2018-11-15 -  Office of the Special Prosecutor has been allocated an amount...