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Ghana records 15.4 pct y-o-y inflation for Dec. 2016
                 Source: Xinhua | 2017-01-12 02:12:03 | Editor: huaxia

ACCRA, Jan. 11 (Xinhua) -- Year-on-year inflation rate recorded by Ghana in December 2016 declined 0.1 percentage point to 15.4 percent, relative to the 15.5 percent recorded in November 2016, the Ghana Statistical Service (GSS) announced here on Wednesday.

The monthly change rate for the month under review was 0.9 percent, compared with the 0.8 percent recorded for November 2016.

Acting Government Statistician Baah Wadieh told the media here that inflation rate for the food and non-alcoholic beverages group increased by 0.4 percentage points to record 9.7 percent year-on-year in December 2016, relative to the 9.3 percent year-on-year inflation rate recorded in November 2016.

"The non-food group recorded a year-on-year inflation rate of 18.2 percent in December 2016, compared with the 18.7 percent recorded in November 2016," Wadieh added.

He explained that the main cause of the fall in prices was the base drift effect as prices during the month under review were generally lower than during the same month a year earlier.

While the stability of the local cedi currency had its impact on the reduction in inflation rate for imported items to 15.7 percent in December 2016, compared with 16.2 percent recorded in November 2016, inflation rate for locally produced items stayed flat at 15.2 percent during the month of December 2016, same as recorded for November 2016.

"The non-food group was basically responsible for the fall in inflation in December 2016," Wadieh added.

The December 2016 inflation rate of 15.4 percent is the lowest since July 2014 when the rate was 15.3 percent. Enditem

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Ghana records 15.4 pct y-o-y inflation for Dec. 2016

Source: Xinhua 2017-01-12 02:12:03

ACCRA, Jan. 11 (Xinhua) -- Year-on-year inflation rate recorded by Ghana in December 2016 declined 0.1 percentage point to 15.4 percent, relative to the 15.5 percent recorded in November 2016, the Ghana Statistical Service (GSS) announced here on Wednesday.

The monthly change rate for the month under review was 0.9 percent, compared with the 0.8 percent recorded for November 2016.

Acting Government Statistician Baah Wadieh told the media here that inflation rate for the food and non-alcoholic beverages group increased by 0.4 percentage points to record 9.7 percent year-on-year in December 2016, relative to the 9.3 percent year-on-year inflation rate recorded in November 2016.

"The non-food group recorded a year-on-year inflation rate of 18.2 percent in December 2016, compared with the 18.7 percent recorded in November 2016," Wadieh added.

He explained that the main cause of the fall in prices was the base drift effect as prices during the month under review were generally lower than during the same month a year earlier.

While the stability of the local cedi currency had its impact on the reduction in inflation rate for imported items to 15.7 percent in December 2016, compared with 16.2 percent recorded in November 2016, inflation rate for locally produced items stayed flat at 15.2 percent during the month of December 2016, same as recorded for November 2016.

"The non-food group was basically responsible for the fall in inflation in December 2016," Wadieh added.

The December 2016 inflation rate of 15.4 percent is the lowest since July 2014 when the rate was 15.3 percent. Enditem

[Editor: huaxia ]
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