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December inflation rises to 13.5%

 

The average change in prices of goods and services in the country measured by inflation rose to 13.5 per cent in December, 2013, the Ghana Statistical Services (GSS) has announced.

The December rate, which is the highest since March, 2010, is 0.3 percentage points higher than the 13.2 per cent recorded in November, 2013.

Subsequently, the monthly rate change for December, 2013 was 1.0 per cent, as against the 0.8 per cent recorded in November, 2013.

The Government Statistician, Dr Philomena Nyarko, when announcing the rate, said hikes in price levels of goods and services and utility prices, coupled with other external factors pushed the December rate up.

Last year, electricity tariffs were increased and the Ghana Road Transport Coordinating Council (GTRCC) announced an increase in lorry fares, which subsequently resulted in the price levels of goods and services.

The hike in the transport fares was the result of a corresponding increase in fuel prices announced by the National Petroleum Authority earlier.

Meanwhile, the food component of the inflation basket recorded a rate of 7.2 per cent compared with the 7.3 per cent recorded in November.

The food inflation rate of 7.2 per cent was about one-and-half times lower than the non-food inflation rate of 18.1 per cent.  

On the regional front, Central Region recorded the highest rate of 14.8 per cent, while the Upper East Region recorded the lowest rate of 6.2 per cent.

 


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