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Business News of Wednesday, 12 December 2012

Source: GNA

Inflation rate for November inches up to 9.3 per cent

The rate of inflation for November stands at 9.3 per cent up from 9.2 recorded in October, the Ghana Statistical Service (GSS) announced on Wednesday.

Speaking at a press conference, Dr Philomena Nyarko, Acting Government Statistician, said the monthly change rate for November was 0.5 per cent as against -1.0 as recorded in October 2012.

She noted that food and non-alcoholic beverages recorded an average year-on-year inflation rate of 3.9 per cent slightly lower than the rate in October which was 4.1 per cent.

Dr Nyarko said the non-food recorded an inflation rate of 12. 4 per cent with transport recording the highest rate of 20. 8 per cent followed by alcoholic beverages, tobacco and narcotics with 16.5 per cent.

At the regional level, the year-on-year inflation rate ranged from 6.3 per cent in the Upper East and Upper West regions to 11.2 per cent in the Greater Accra region. Four regions, including Greater Accra, Central, Northern and Ashanti recorded inflation rates above the national average of 9.3 per cent.

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