Skip to main content

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%.


Popular posts from this blog

PIAC told to go to court to enforce recommendations

By: Fred Yaw Sarpong

The Public Interest and Accountability Committee (PIAC), the mandated body to monitor the use of Ghana’s oil revenues has been asked to go to court to seek strict compliance of the laws covering accountability of oil funds in the country.

According to Dr. Steve Manteaw, the Campaign Coordinator for ISODEC and a member of the PIAC , it’s time for PIAC as a body to consider going to court to compel institutions responsible for managing Ghana’s oil revenue to answers some questions concerning the expenditure of oil funds.

He pointed out that there are several recommendations made by the PIAC in its past reports on management of petroleum revenues, and a lot of these recommendations has received no positive response from the institutions concerned.

He disclosed this to the Daily Express at a three-day workshop on Interrogating the 2016 Semi Annual PIAC Report at Koforidua in the Eastern Region.

The workshop was organized by the Institute of Financ…

BoG shuts down two financial institutions

The Bank of Ghana has closed down two financial institutions in the country. This was after the central bank investigation revealed that the two companies were operating without approval.

The two companies were Agro Development Fund Services Limited (ADFSL) and Hebron Financial Investment Limited (HFIL).

The Daily Express gathered that the ADFSL was asked to stop operating after the central bank realized the institution had not been licensed to take deposit from the public.

A statement from BoG said the ADFSL continued to operate despite the orders from the Bank of Ghana. It however closed down ADFSL’s operation until further notice.

The Bank of Ghana said that the ADFSL is located at Asufufu, opposite the Sunyani Traditional Council in the Brong Ahafo region.

“The decision to close down ADFSL is in furtherance of section 20(2) (g) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930). Bank of Ghana has investigated ADFSL thoroughly and has concluded that its a…

Graphic Communication Group staffs petition GJA Election Dispute Adjudication Committee

Some staffs of the Graphic Communications Group have petition the Election Dispute Adjudication Committee of the Ghana Journalists Association (GJA) concerning their grievances covering issues affecting the association.
The staffs of the company seeks some clarification on the mandate of the current executives of the association.

Dear Sir,
We the undersigned write to place before you our grievances covering issues affecting the Ghana Journalist Association, and we hasten to add that our grievances are placed before you in furtherance of our constitutional duty under Article 11 (e) of the 2004 Constitution of the Ghana Journalists Association.
We first of all seek clarification on the mandate of the current executives of the Association to be in office and take decisions to affect the wellbeing and welfare of the Associ…