Inflation for the month of December 2015 increased to 17.7% compared with the 17.6% recorded in November 2015.
The monthly change rate for December was 1.1% while that of November was 1.0%.
[contextly_sidebar id=”UlgI7i4FIKRfuBxCLKEv8PXVUMfLHi5i”]Food inflation rose to 8.0% compared to the 7.9% recorded for November 2015 while non food inflation recorded 23.3% which was three times higher than the food inflation of 8.0%.
The consumer price index measures the change over time in the general price levels of goods and services that households require for the purpose of consumption.
The Chief Executive of the Ghana Statistical Service Dr. Philomena Nyarko speaking to Citi Business News attributed the increase to recent hikes in utility and projects a continues rise in inflation in the first quarter of 2016.
The main “price drivers” for the non-food inflation rate were recreation and culture (26.9%), education (26.8%), transport (27.0%), clothing and footwear (24.1%), furnishings, household equipment and routine maintenance (25.8%) and Housing, water, electricity, gas and other fuels (24.3%).
Ashanti region recorded the highest year on year inflation rate of 19.2% while the Upper East Region recorded the lowest inflation rate of 13.7 percent.
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By: Norvan Acquah – Hayford/citifmonline.com/Ghana