Inflation Falls to 9.3% in November

The year on year inflation rate for November fell to 9.3 percent, as compared to the 9.5 percent in October.

Announcing this yesterday, Government Statistician Baah Wadieh said the rate is the lowest since January 2013.

“This means that the general price level went up by 0.7% between October 2018 and November 2018. The monthly change rate recorded for October 2018 was the same rate as in November 2018,” he said.

The drop was caused by the two main components; food inflation and non-food inflation.

Food inflation rate for November 2018, according to Mr Wadieh was 8.6%, compared to the 8.9% recorded in October 2018, whereas the non-food inflation rate for November 2018 was 9.7%, compared with the 9.8% recorded in October 2018.

“The main ‘price drivers’ for the non-food inflation rate were Transport (13.7%), recreation and culture (13.3%), clothing and footwear (12.6%), furnishing, household equipment and routine maintenance (11.4%) and miscellaneous goods and services (10.3%).

The ‘price drivers’ for the food inflation rate were coffee, tea and cocoa (12.8%), fruits (11.0%), meat and meat products (10.2%), mineral water, soft drinks, fruit and vegetable juices (9.4%), food and food products n.e.c. (9.4%), and vegetables (9.1%),” he asserted.

Five regions (Upper West, Brong Ahafo, Western, Ashanti and Northern) recorded inflation rates above the national average rate of 9.3 per cent.

Upper West Region recorded the highest year-on-year inflation rate of 11.5%, followed by Brong Ahafo Region (10.2%) while the Upper East Region recorded the lowest year-on-year inflation rate (7.6%) in November 2018.

By: Emmanuel Yeboah Britwum