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.

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