The rate of inflation for November 2018 dropped from 9.5 per cent recorded in October 2018 to 9.3 per cent, the lowest since January 2013.
At a press conference in Accra, Government Statistician Baah Wadieh said: “This means that the general price level went up by 0.7% between October 2018 and November 2018. The monthly change rate recorded for October 2018 was the same rate as in November 2018.”
Two main components – Food inflation and Non-food inflation accounted for the drop.
According to Government Statistician, the food inflation rate for November 2018 was 8.6%, compared to the 8.9% recorded in October 2018, whereas the non-food inflation rate for November 2018 was 9.7%, compared with the 9.8% recorded in October 2018.
“The main ‘price drivers’ for the non-food inflation rate were Transport (13.7%), recreation and culture (13.3%), clothing and footwear (12.6%), furnishing, household equipment and routine maintenance (11.4%) and miscellaneous goods and services (10.3%).
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“The ‘price drivers’ for the food inflation rate were coffee, tea and cocoa (12.8%), fruits (11.0%), meat and meat products (10.2%), mineral water, soft drinks, fruit and vegetable juices (9.4%), food and food products n.e.c. (9.4%), and vegetables (9.1%).”
Five regions (Upper West, Brong Ahafo, Western, Ashanti and Northern) recorded inflation rates above the national average rate of 9.3 per cent.
Upper West Region recorded the highest year-on-year inflation rate of 11.5%, followed by Brong Ahafo Region (10.2%) while the Upper East Region recorded the lowest year-on-year inflation rate (7.6%) in November 2018.
