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The rate at which the prices of goods and services change in Ghana has
hit 17% for the month of November, the highest in the last four years.
This was announced by the Ghana Statistical Service on Wednesday.
The 17% is however just a marginal increase from the October of 16.9%.
According to the Deputy Government Statistician Baah Wadeah, the rate
at which the prices of food rose in November was just about 0.1%,
increasing from 6.5% to 6.6%.
The average price of vegetables declined by about 5.5% but the overall
food inflation was driven by coffee, tea and cocoa which recorded
inflation rate of 20.5%.
In the previous month (September), inflation was at 16.50%, showing a
continuous rise of the country's inflation for several months.
The non-food inflation was flat at 24.1%, same as in October.
The Central Region recorded the highest rate of inflation, at 19.5%
while the Upper West Region recorded the lowest at 13.1%.
The Greater Accra Region recorded an inflation rate of 16.3% in the
month of November.
In terms of the imported items in Ghana, inflation hit 24.2%, locally
produced items recorded an inflation rate of 14.4%
Government is looking to reduce inflation to about 11.5% by the end of
2015, as announced by the Finance Minster Seth Terkper in the 2015
budget statement presented to Parliament in November.
Credit: Citifmonline.com
