Inflation rate for December records slight reduction

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Inflation rate for December 2019 recorded a marginal drop due to the continuous fall in food prices in the last quarter of 2019, ABC News can report.

According to the Ghana Statistical Service, inflation rate for December 2019 recorded a decrease of 0.3 percentage points. That is, from 8.2 percent rate in November 2019, the rate dropped to 7.9 percent in December 2019.

“The national year-on-year inflation rate was 7.9% in December 2019, 0.3 percentage points lower than the 8.2% recorded in November 2019”,  the Statistical Service said in a news conference.

Giving explanation to reporters, Government Statistician, Professor Samuel Kobina Anim, noted that apart from the food inflation playing a very significant role on the fall, the inflation of housing and transportation also recorded marginal changes during the period hence impacting the general reduction in December’s inflation rate.

He further detailed that Alcoholic beverages, Tobacco & Narcotics (13.5%), Transport (11.0%), and Housing (10.5%) were the divisions with the highest rates of inflation.

Due to its relative importance in consumption, Food is the main driver of inflation in Ghana.

Professor Anim added that on the regional level, the year-on-year inflation ranged from 5.0% in the Ashanti Region to 12.0% in the Greater Accra Region

Source: ABCNewsGh.com

 

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