2015 Inflation Ends At 17.7%

Year-on-year inflation for December 2015 reached 17.7 percent up from 17.6 percent recorded in September 2015.

The monthly change rate for December 2015 was 1.1 percent compared to 1.0 percent recorded in November.

This means that the general price level went up by 1.1 percent between November 2015 and December 2015.

The food inflation rate for December 2015 was 8.0 percent compared to 7.9 percent recorded in November 2015.

Non-food inflation rate for December 2015 was 23.3 percent compared to 23.2 percent recorded in November 2015.

Government Statistician, Dr. Philomena Nyarko, who was addressing a press conference in Accra yesterday, explained that the  main ‘price drivers’ for the non-food inflation rate were transport (27.0%), recreation and culture (26.9%), education (26.8%), furnishings, household equipment and routine maintenance (25.8%), housing, water, electricity, gas and other fuels (24.3%) and clothing and footwear (24.1%).

She said the “price drivers” for the food inflation rate were vegetables (13.3%) and mineral water, soft drinks, fruit and vegetable juices (10.6%).

Dr. Nyarko said the inflation rate for imported items was 18.3 percent in December 2015 compared to 18.6 percent recorded in November 2015.

Inflation rate for locally produced items was 17.5 percent in December 2015 compared to 17.2 percent recorded in November 2015, she noted.

Regional Differentials

Dr. Nyarko said the Upper West Region recorded the highest non-food inflation rate while Volta Region recorded the highest food inflation rate in December 2015.

She said the Ashanti Region recorded the highest combined inflation rate in December 2015, adding that eight commodity groups recorded inflation rates higher than the regional average of 19.2 percent.

Source: Daily Guide