November inflation drops to 15.5%

Ghana’s inflation went down by 0.3 percentage points declining further to 15.5 percent in November from the 15.8 percent record in October 2016.

The 15.5 percent is one of the lowest inflation recorded in the country over the last 24 months, data from the Ghana statistical Services (GSS) shows.

The monthly change rate for November stood at 0.8 percent compared with the 1.4 percent recorded for the month of October 2016. Also the year-on-year non-food inflation rate for November 2016 was 18.7% compared with 19.4% in October.

The non – food inflation group went up to 18.7 percent in November 2016, over 100 percent of  the 9.3 percent which was recorded in the previous month.

A Deputy Government Statistician at the Ghana Statistical Services Mr. Baah Wadieh, told the media Wednesday in a Press briefing in Accra that the decline was a result of the stability in the Ghana cedi and prices of the non-food items.

“This time what we see is that, the cedi continues to be stable and prices of imported items also remained relatively stable. This is what saw the inflation rate drop.”

The Greater Accra region recorded the highest year – on – year inflation rate of 18.1 percent, followed by the Ashanti region with 15.8 percent while the Volta region recorded the lowest of 13.1 percent.

Source:otecfm102.9,Kumasi;story by Kwame Owusu Achiaw.