January inflation unchanged at 8.8 per cent

The rate of inflation for January 2013 was at 8.8 per cent same as in December 2012, the Ghana Statistical Service (GSS) announced on Wednesday.

The monthly change rate for January was 2.1 per cent as against 0.7 per cent recorded in December 2012.

Speaking at a press conference, Dr Philomena Nyarko, acting Government Statistician, said the year-on-year non-food inflation rate was 11.5 per cent, compared to 11.6 per cent in December 2012.

She said that food and non-alcoholic beverages recorded an average year-on-year inflation rate of 3.9 per cent, same as in December.

On the other hand, Dr Nyarko said the non-food recorded an inflation rate of 11.5 per cent with education recording the highest rate of 21.9 per cent followed by alcoholic beverages, tobacco and narcotics with 17 per cent.

“The year-on-year non-food inflation rate was about three times as high as the food inflation,” she said.

At the regional level, the year-on-year inflation rate ranged from 5.8 per cent in the Volta region to 11 per cent in the Greater Accra region.

Four regions, including Greater Accra, Central, Northern and Ashanti recorded inflation rates above the national average of 8.8 per cent.