Skip to main content

Inflation rate for January 2016 is 19.0%


The year-on-year inflation rate stood at 19.0 percent in January 2016, up by 1.3 percentage points from the 17.7 percent recorded in December 2015.

This rate of inflation for January 2016 is the percentage change in the Consumer Price Index (CPI) over the twelve-month period, from January 2015 to January 2016.

The monthly change rate for January 2016 was 4.6 percent compared to the 1.1 percent recorded for December 2015. Mr. Baah Wadieh, the Deputy Government Statistician announced this at a news conference in Accra on Wednesday.

The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 8.2 percent. This is 0.2 percentage point higher than the 8.0 percent recorded for December 2015.

About six subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 8.2 percent. These are Coffee, tea and cocoa (11.4%), Mineral water, soft drinks, fruit and vegetable juices (11.3%), Sugar, jam, honey chocolate and confectionery (10.5%), other food products (10.5%) and vegetables (9.5%).

The non-food group recorded a year-on-year inflation rate of 25.5 percent in January 2016, compared with the 23.3 percent recorded in December 2015.

Meanwhile, two subgroups of the non-food group recorded year-on-year inflation rates higher than the group’s average of 25.5 percent. Housing, water, electricity, gas and other fuels recorded the highest inflation rate of 45.5 percent and followed by Transport with 30.8 percent. Inflation was lowest in the Communication subgroup (13.5%).

At the regional level, the year-on-year inflation rate ranged from 14.1 percent in the Upper East region to 23.1 percent in the Greater Accra region. Two regions (Ashanti-19.9 percent and Greater Accra- 23.1 percent) recorded inflation rates above the national average of 19.0 percent.

The rest are Central 15.2 percent, Volta 15.7 percent, Eastern 16.8 percent, Upper West 16.9 percent, Western 17.2 percent, Northern 18.6 percent and Brong Ahafo 19.0 percent.


Comments

Popular posts from this blog

PFM Act to guide local government authority borrowing

By: Fred Yaw Sarpong
The bill, Public Financial Management (PFM) Act 921 which has been passed into law by Parliament is to guide public institutions especially the local government authority borrowing. The law was pass on 3rdAugust, 2016
According to the law, local government authority, a public corporation or state-owned enterprise is liable for the debt and other obligations without recourse to Government, unless otherwise explicitly guaranteed by Government in accordance with this Act.
Madam Eva Esselba Mends, the Chief Economic Officer and Group Head of PFM at the Ministry of Finance told the Daily Express that the law involves a lot but it also give instruction to how state institutions can borrow especially with the  local government authority.
She mentioned that there is no specific law in place that gives direction as to what local authority can do when it comes to borrowing by the authority. Other public corporations sometimes borrow with huge amount for their operation but loca…

Tigo donates 540 tablet phones Death and Birth Registry

By: Sarpongs.blogspot.com 
Tigo Ghana has presented 540 tablets phones with internet connectivity to the Births and Deaths Registry (BDR) for the pilot phase of the automated birth registration programme.
This form parts of Tigo’s strategic focus to accelerate birth registration in Ghana through mobile technology. Tigo in partnership with UNICEF is providing this technology platform.
A statement from Tigo stated that the tablets will allow birth registration attendants from the Births and Deaths Registry to electronically capture details of all new births in 300 communities across Ghana.
The automated birth registration programme which was launched in May this year, is expected to make a significant contribution to an improved national average registration rate, an increase from 65 percent of all children under age one to at least 75 percent by the end of 2017.
According to Tigo, a successful pilot will also contribute to progress under Ghana’s National Civil Registration and Vital Statist…

Vodafone fined a record £4.6 million for IT blunder

A top-up error left pay-as-you-go customers out of pocket and complaints were mishandled
Vodafone has been fined a record £4.6 million by the telecoms watchdog forleaving thousands of customers out of pocket in a disastrous IT blunder.
Ofcom found that the operator mishandled complaints and failed to pay into the accounts of more than 10,000 pay-as-you-go customers when they topped up their credit.
The top-up error, which cost customers £150,000 over 17 months in 2014 and 2015, stemmed from the moving of 28.5 million accounts to a new billing system.Errors in billing data and price plans caused so much protest that it made Vodafone the most complained-about mobile network in Britain.The technical issues were resolved by April 2015 and all accounts are now on the new system, Vodafone said.
Lindsey Fussell, Ofcom’s consumer group director, said:“Vodafone’s failings were serious and unacceptable, and these fines send a clear warning to all telecoms companies.”
The company says that it has ref…