December Inflation Is 11.8%

Inflation rate for December 2017 is 11.8 per cent, up from the 11.7 per cent recorded in November in the same year, Acting Government Statistician, Baah Wadieh, has announced.

At a press conference in Accra on Wednesday January 10, Mr Wadieh indicated that two main components, Food and Non-food Inflation rate, accounted for the rise in the rate.

“The food inflation rate for December 2017 was 8.0% (compared with 7.9% recorded in November 2017). The non-food inflation rate for December 2017 was 13.6% (same as the rate recorded in November 2017),” he said.

He further stated that four regions (Upper West, Greater Accra, Brong Ahafo and Ashanti) recorded inflation rates higher than the national average of 11.8% .

Upper West region recorded the highest year-on-year inflation rate of 12.8%, followed by Greater Accra, region (12.7%), while the Upper East region recorded the lowest year-on-year inflation (10.2%) in December 2017.

Source: ClassFMonline