Inflation Rate for January 2019 fell to 9.0 per cent – GSS

Mr David Yenukwa Kombat, Acting Deputy Government Statistician at the Ghana Statistical Service (GSS) on Wednesday revealed that the year-on-year inflation rate for January 2019, decreased by 0.4 per cent.

This he said, was measured by the Consumer Price Index (CPI) as 9.0 per cent in January 2019, compared to 9.4 per cent in December 2018.

At a press briefing in Accra, Mr Kombat said the monthly rate for January 2019 was 1.0 per cent, compared to the 1.1 per cent recorded for December 2018.

He said the non-alcoholic beverages group recorded a year-on-year inflation rate of 8.0 per cent, 0.7 per cent point lower than the rate recorded in December 2018, whiles four sub-groups of the food and non-alcoholic beverages recorded inflation rates higher than the group’s average rate of 8.0 per cent.

Mr Kombat said the non-food group recorded a year-on-year inflation rate of 9.5 per cent in January 2019, compared to 9.8 per cent in December 2018, as five sub-groups recorded year-on-year inflation rates higher than the groups’ average rate of 9.5 per cent.

“Transport recorded the highest inflation rate of 13.4 per cent, followed by clothing and footwear with 12.8 per cent, recreation and culture with 12.7 per cent, furnishing, household equipment and routine maintenance 11.2 per cent, miscellaneous goods and services 9.6 per cent, whilst the lowest was the Housing, Water, Electricity, Gas and others Fuel sub-groups with 2.9 per cent”.

The Deputy Statistician said, at the regional level, the year-on-year inflation rate ranged from 7.7 per cent in the Upper East to 10.8 per cent in the Upper West Region, adding that, four regions Upper West, Brong Ahafo, Western and Ashanti regions recorded inflation rates above the national average of 9.0 per cent.

He said the main “price drivers” for the non-food inflation rate were Transport, Clothing and footwear, Recreation and Culture, Furnishing, Household Equipment and Routine Maintenance, Miscellaneous goods and services.

According to Mr Kombat, the ‘price drivers’ for the food inflation rate were Coffee, tea and cocoa, 12.4 per cent, Fruits, 10.0 per cent, Meat and meat products, 9.8 per cent, with Mineral water, soft drinks, fruits and vegetable juices, 9.3 per cent.