Business News of 2014-01-15

Inflation for December last year rises

The year-on-year inflation measured by the Consumer Price Index for December 2013 stood at 13.5 per cent, an increase from the 13.2 per cent recorded in November 2013.
The December inflation rate is the highest since March 2010 and the increase is as a result of high price changes of some items such as water supply, electricity, transport, kerosene and gas.
The Monthly change rate for December 2013 was 0.1 per cent as against the 0.8 per cent recorded in November 2013.
Dr Philomena Nyarko Government Statistician, who said this at a news conference on Wednesday in Accra, said the food and non-alcoholic beverages group recorded an average year-on-year inflation rate of 7.2 per cent, 0.1 percentage points lower than the 7.3 per cent recorded in November 2013.
Dr Nyarko said the non-food group recorded an average year-on-year inflation rate of 18.1 per cent in December 2013, compared to a rate of 17.6 per cent recorded in November 2013.
She said housing, water; electricity, gas and other fuels recorded the highest rate of 35.0 per cent followed by transport which recorded 25.6 per cent adding that inflation was lowest in the communications subgroup with 4.4 per cent.
Dr Nyarko said the Central Region recorded the highest regional year-on-year inflation rate of 14.8 per cent and Upper East Region the lowest with 6.2 per cent while Central, Greater Accra, Eastern, Western and Ashanti recorded inflation rates above the national average of 13.5 per cent.