• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

Alcoholic beverages, tobacco and narcotics; has highest inflation for November 2019

22/12/2019
Reading Time: 2 mins read
local alcoholic beverage, inflation, ghanatalksbusiness.com

Unbranded Alcoholic Beverage in Ghana

405
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

The rate of Consumer Price Inflation (CPI) for November 2019 has been reported as 8.2% (Ghana Statistical Service). This is up 0.5% from 7.7% in October 2019. According to the Ghana Statistical Service (GSS), the Alcoholic Beverage, Tobacco and Narcotics division in the basket had the highest inflation year-on-year to November 2019.

Alcohol, Tobacco & Narcotics

The Alcoholic Beverage, Tobacco and Narcotics division recorded inflation of 13.4% between November 2018 and November 2019. One major possible reason why consumers had to pay more within the period could be due to intense competition among players causing them to spend more on advertising and passing on cost to consumers. Other reasons could be the increase cost of operations due to factors like Cedi depreciation to major currencies and particularly the US Dollar.

Food

Though food inflation still remains the largest contributor to inflation, its year-on-year inflation to November 2019 stood at 8.4% and fourth in list of inflation items. However due to its importance in consumption, food inflation remains the highest contributor to the overall inflation figure. Food contributed 44.4% to the overall inflation figure but did not have the highest inflation over the year.

The Ranking

The other divisions that followed the Alchohol, Tobacco and Narcotic division are Transport in the 2nd place with 12.3% increase in prices and Utilities in the 3rd place with 9.6%. All rates are from November 2018 to November 2019.

Transport inflation is high due to the Cedi depreciation that has mainly driven upwards fuel prices significantly in 2019. Utilities has also seen its fare share having been increased by 8% between Electricity (5.9%) and water (2.2%), announced by PURC in October 2019.

The December 2019 inflation could be higher due to the further expected Cedi depreciation at the end of the year. The depreciation would push the transport inflation higher and therefore the overall inflation. As the largest contributor, food also usually sees increases in price at the end of December.

Also Read: Producer Price Inflation for November

Ghana Talks Business: ghanatalksbusiness.com

Previous Post

Joint Position Paper on the EU’s Policy and Regulatory approach to Cocoa

Next Post

IES commends Isaac Osei for his resignation

Related Posts

Inflation rate august

Ghana’s Inflation rate for March 2020 remains unchanged, still at 7.8%

16/04/2020
economy

Ghana’s Producer Price Inflation drops to 11.8 per cent in February

19/03/2020
inflation rate February

Ghana’s Inflation rate remains unchanged at 7.8 percent for February 2020

12/03/2020
produce_price_index

Producer Price Index dropped to 9.7% in September

18/10/2019
inflation rate drops in November

Ghana’s inflation rate for September falls to 7.6%

17/10/2019
producer_price_inflation

Producer Price Inflation hits 10.2 % in August

23/09/2019
Next Post
Isaac Osei, TOR MD, ghanatalksbusiness.com

IES commends Isaac Osei for his resignation

#endsars unrest, ghanatalksbusiness.com

Depositors to receive 100% payment – President in Christmas and new year’s message

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2021 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2021 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In