Consumer Price Inflation for January Inches Down

The year-on-year inflation rate as measured by the Consumer Price Index (CPI) stood at 10.3 per cent representing a decrease of 1.5 per cent as recorded in December last year.

The monthly change for January 2018 was 1.4 per cent compared to the 1.0 per cent record for December 2017.

Addressing a news conference in Accra, yesterday, Mr Baah Wadieh, Acting Government Statistician, said the year-on-year non-food inflation rate for January 2018 was 12.0 per cent while that of the food inflation rate for the same month was 6.8 per cent.

He attributed the main price drivers for the non-food inflation rate to transport, clothing and footwear, recreation and culture, amongt others, while that of the food inflation rate were driven by fruits, vegetables, coffee, tea, coffee, meat and meat products, among others.

For imported items, Mr Wadieh said the sector's year-on-year inflation rate was 11.8 per cent indicating a 2.1 percentage points higher than that of locally-produced items which was 9.7 per cent.

He mentioned that the Upper West, Brong Ahafo, Ashanti and Greater Accra regions recorded inflation rates higher than the national average of 10.3 per cent.

According to him, the Upper West Region recorded the highest year-on-year inflation rate of 12.1 per cent followed by the Brong Ahafo Region.

The Upper East Region, Mr Wadieh said, recorded the lowest year-on-year inflation of 7.8 per cent for the month of January 2018.

Source ISD (Nana Ama Bonnah & Faith Edison)

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