Inflation goes up marginally to 13.2%

By; Fred Yaw Sarpong

    The year-on-year inflation rate for November 2013 increased marginally 13.2% from the inflation rate for October 2013, which was 13.1%, according to the Ghana Statistical Service (GSS). This represents an increase of 0.1 percentage point between October and November 2013

    This means that the change in the general price level was 13.2% over the one year period, from November 2012 to November 2013.

    The monthly change rate for November 2013 was 0.8% compared to the monthly rate recorded for October 2013, which was -2.3%

This, according to GSS means that the change in the general price level went up by 0.8% between October 2013 and November 2013.

    Mr. Baah Wadieh, acting Deputy Government Statistician announced this at a news conference in Accra on Wednesday 12 November, 2013.

    According to Mr. Wadieh the food inflation rate for November 2013 was 7.3% compared with 6.9% recorded in October 2013. However, the non-food inflation rate for November 2013 was 17.6%, compared with 17.7% recorded for October 2013.

   The food inflation rate of 7.3% was about two and a half times lower than the non-food inflation rate of 17.6%. Within the food group, three sub-groups recorded inflation rates higher than the group average of 7.3%. These are fish and seafood; mineral waters, soft drinks; and cereals and products.

    Within the Non-food group, four sub-groups recorded inflation rates higher than the group average rate of 17.6%. These include housing, water, electricity, gas and other fuels; transport; miscellaneous good and services; and clothing and footwear.

    Housing and Utility group recorded the highest main group’s inflation rate (34.1%) in November 2013. It recorded 0.7 percentage point between October and November 2013

    Communication group on the other hand recorded the highest change of 1.8 percentage points in the main group’s inflation rate between October (2.5%) and November (4.3%) 2013.

    Greater Accra region recorded the highest inflation rate of 14.9% in November 2013 while Upper East recorded lowest with 6.0%. The rest are Western 14.5%, Eastern 13.5%, Ashanti 13.3%, Central 12.7%, Northern 12.5%, Volta 12.1%, Brong Ahafo 11.1%, and Upper West had 6.4%.