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Inflation Coming Down   
 
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14-Feb-2019  
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The year on year inflation rate as measured by the CPI was 9.0% in January 2019, down by 0.4% points from the 9.4% recorded in December 2018.

The rate of inflation for January 2019 is the percentage change in the consumer price Index over the twelve month period, from January 2018 to January 2019. The monthly change rate for January 2019 was 1.0% compared to the 1.1% recorded for December 2018.

The food and non-alcoholic beverages group recorded a year on year inflation rate of 8.0%. This is 0.7 percentage point lower than the rate corded in December 2018.

Four subgroups of the food and alcoholic beverages group recorded inflation rates higher than the groups’ average rate of 8.0%.

According to Mr. Davi Y. Kombat, Acting Government Statistician, the non-food group recorded a year on year inflation rate of 9.5% in January 2019, compared to the 9.8% recorded for December 2018.

Transport recorded the highest inflation rate of 13.4%, followed by Clothing and footwear with 12.8%, Recreation and Culture with 12.7%, Furnishings, household equipment and Routine maintenance with 11.2% and Miscellaneous goods and services with 9.6%. He underscored that inflation was lowest in the Housing, Water, Electricity, Gas and others Fuels subgroup.

On the Regional differentials, Mr. Kombat attributed that the year on year inflation rate ranged from 7.7%. The four regions of Upper West, Brong Ahafo, Western and Ashanti recorded inflation rates above the national average of 9.0%.

Upper West region recorded the highest year on year inflation rate of 10.8%, followed by Brong Ahafo region 9.9%, while the Upper East region recorded the lowest year on year inflation rate by 7.7% in January 2019.

He added that in January 2019, the year on year inflation rate for imported items (10.8%) was 2.5 percentage points higher than that of locally produced items 8.3%.

The price drivers for the food inflation rate were Coffee, tea and cocoa 13.4%, fruits 10.0%, Meat products 9.8% and Mineral water, soft drinks, fruit and vegetable juices 9.3%.
 
 
Source: The Daily Searchligh
 
 

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