Inflation ends 2017 at 11.8 percent

The year-on-year inflation rate inched up to 11.8 percent in December from the 11.7 percent recorded in November 2017.

Mr Baah Wadieh, Acting Government Statistician, attributed the rise to an increase in the rates of inflation for the Housing, Water, Electricity, Gas and other Fuels group, Clothing and Footwear group, and furnishings, among others.

The Food and non-alcoholic beverages group recorded a year-on-year inflation rate of 8.0 percent up marginally from 7.9 percent recorded in November.

Two sub-groups of the food and non-alcoholic beverages group, however, recorded an inflation rate higher than the group’s average rate of 8.0 per cent. The sub-groups were Vegetables 10 percent and Fish and Seafood 8.8 percent.

The non-food group inflation was unchanged at 13.6 percent.

Four subgroups of the non-food group recorded year-on-year inflation rates higher than the group’s average rate of 13.6 percent.

Clothing and Footwear recorded the highest rate of 18.8 percent, Transport 18.7 percent, Recreation and Culture 17.5 percent, and Furnishing, Household Equipment and Routine maintenance 15.2 percent.

At the regional level, the year-on-year inflation rate ranged from 10.2 per cent in the Upper East Region to 12.8 per cent in the Upper West Region.

Four regions, Greater Accra, Upper West, Brong Ahafo, and Ashanti, recorded inflation rates above the national average of 11.7 percent.

Upper East region recorded the lowest inflation rate of 10.2 percent.