December inflation hits 11.8%

Inflation rate for December 2017 increased slightly to 11.8 per cent, up from the 11.7 per cent recorded in November in the same year, acting Government Statistician, Baah Wadieh announced Wednesday.

The monthly change rate, according to Mr Wadieh comes as a result of the rise in the two main components, Food and Non-food Inflation.

“The food inflation rate for December 2017 was 8.0% (compared with 7.9% recorded in November 2017). The non-food inflation rate for December 2017 was 13.6% (same as the rate recorded in November 2017),” he told a press conference held in the capital- Accra.

At least, four regions (Upper West, Greater Accra, Brong Ahafo and Ashanti) recorded inflation rates higher than the national average of 11.8% .

According to him, Upper West region recorded the highest year-on-year inflation rate of 12.8%, followed by Greater Accra, region (12.7%), while the Upper East region recorded the lowest year-on-year inflation (10.2%) in December 2017.