Year-on-year inflation decreased by 0.1% to 7.8% in January 2020.
However, the monthly change between January 2020 and December 2019 was 1.4%, the highest since the rebasing in August 2019.
According to figures from the Ghana Statistical Service, the food inflation rate was 7.8% whilst the non-food inflation rate was 7.9%.
Inflation was high for Alcoholic Beverages, Tobacco and Narcotics (11.1%); Transport (10.5%) as well as Housing, Water, Electricity and Gas Divisions (9.0%).
The differential inflation between locally produced items (8.7%) and imported items (5.8%) was 2.9 percentage points.
The figures further revealed that local inflation has been growing faster than imported inflation for the past three months.
More soon.
Source: Daily Guide
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Lies, big lies, cooked figures
The positive effect derived from economic indications generally takes time to mature and thus triggers relief very slowly in the pocket of the people. In the absence of the immediate benefits, a good Government embarks on social interventions, ie FHS, NHIS, etc. Further, the positive indications if sustained for a period of time give investors confidence in the economy and the economy becomes creditworthy. Hence, the oversubscription of the Eurobonds didn't just fall from heaven. If all these, in turn, are directed into industrialization, production of goods and services and export value-added goods then we will be on the right path for development and economic welfare. It is only then that our cedi will be strong by virtue of it being backed by the production of goods and services; as a result, Ghana can develop beyond aid. Indeed, the present administration is doing very well in terms of Governance and economic management. Therefore, it is solemnly imperative that the NDC is parked in the opposition for at least 20 good years.
Go and find a work to do and you will feel it in your pocket!!!
THE PROBLEM IS WE ARE NOT FEELING IT IN OUR POCKET OO AND THAT IS THE BIG PROBLEM WE ARE HAVING WITH THE GOVERNMENT.