Inflation for November Hits 11.7%

Acting Government Statistician, Dr Baah Wadieh, has announced that the inflation rate for November is 11.7 per cent, up from the 11.6 per cent recorded in October.

Two main components, the Food and Non-food Inflation rates, accounted for the slight increase in the rate for November, Mr Wadieh stated at a press conference on Wednesday 13 December.

“The food inflation rate for November 2017 was 7.9%, compared with 8.2% recorded in October 2017,” he said, adding: “The non-food inflation rate for November 2017 was 13.6%, compared with 13.2% recorded in October 2017.”

“The main price drivers for the non-food inflation rate were Transport (18.6%), Clothing and footwear (18.3%), Recreation and Culture (17.1%), Furnishing, Household Equipment and Routine Maintenance (15.2%) and Miscellaneous Goods and Services (14.0%). The “price drivers” for the food inflation rate were Vegetables (9.0%) and Fish and Sea Food (8.8%).”

Among the regions, Mr Wadieh stated that: “Four regions (Greater Accra, Upper West, Brong Ahafo and Ashanti) recorded inflation rates higher than the national average of 11.7%. Greater Accra Region recorded the highest year-on-year inflation rate of 12.7%, followed by Upper West Region (12.4%), while the Upper East Region recorded the lowest year-on-year inflation (10.0%) in November 2017.”

Source: ClassFMonline