Market in Ghana

Ghana’s headline inflation inched up to 9.4 percent year-on-year in December 2018, compared with 9.3 percent a month earlier, the Ghana Statistical Service (GSS) announced here on Wednesday.

For the same period, the monthly rate of change in inflation was 1.1 percent compared with 0.7 percent recorded for November.

David Kombat, Acting Government Statistician, said that the Food and Non-Alcoholic Beverages group saw its year-on-year inflation rate rising by 0.1 percentage points to 8.7 percent in December compared with the 8.6 percent recorded earlier.

“The non-food group recorded a year-on-year inflation rate of 9.8 percent in December 2018, compared to the rate of 9.7 percent recorded in November,” he added.

The country had targeted a medium term inflation rate of 8 percent to be achieved by last December. But Kombat noted that Ghana remained within the target band of plus or minus 2 percent of the core target.

Although transport fares did not go up in December, he explained that “the key thing was that transport fares in December 2018 were higher than they were a year earlier.” Enditem

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