Inflation for December 2018 hits 9.4%
January 9, 2019
The year 2018 ended with a slight increase in inflation rate to 9.4% for the month of December compared with 9.3% in November 2018.
The monthly change rate in December 2018 was 1.1 percent as against 0.7 percent in November 2018.
According to the Acting Government Statistician, David Kombat, the slight hike in inflation for December can be attributed to the marginal hike in transport fares and spare parts.
“If you look at the Upper West Region, for example, we see that consistently when there is a change in fuel price or not, the inflation rate for transport is always the cause of the increase in their rates. The cost of Spare parts has also had a trickling down effect on the overall year – on – year inflation rate,” he stated.
The price drivers for the food inflation rate were Coffee, tea and cocoa (13.5 percent), Fruits (11.4 percent), Meat products (10.9 percent) and Mineral water, soft drinks, fruit and vegetable juices (9.2 percent).