Business News of 2013-12-12

Inflation shoots up to 13.2%

Inflation shot up marginally from 13.1 percent in October to 13.2 percent in November.

The marginal increment is contrary to seasonal trends and is the highest since March 2010.

The new rate indicates that interest rates will not come down anytime soon.

Baah Wadie, Deputy Government Statistician in charge of Support Services said food inflation went up from 6.9 percent in October to 7.3 percent in November while non-food inflation decline by 0.1 percent to 17.7 percent.

Meanwhile, the Greater Accra region recorded the highest inflation rate of 14.9 percent while Upper East region maintained the lead as the region with the least inflation of 6 percent