The inflation rate for January has seen a 1.5 percentage decrease from the 11.8 percent recorded in December 2017 to 10.3 percent in January 2018.
Acting Government Statistician, Baah Wadieh has revealed that the decrease in the January inflation is as a result of a general reduction in the food and non-food inflation components, as well as a base drift effect.
“The food and the non-alcoholic beverages group recorded a year on year rate of 6.8 percent. This is 1.2 percentage points lower than the rate recorded in December 2017,†he said.
He explained that six groups of the food and non-alcoholic beverages group recorded inflation higher than the group’s average rate of 6.8 percent.
He added that the Non-Food group recorded a year on year inflation rate of 12.0 percent in January 2018, compared to the 13.6 percent recorded for December 2017.
Meanwhile, at the regional level, Mr. Wadieh announced that the Ashanti region recorded the highest food inflation rate.
Inflation measures the rate of change in prices of goods and services over a period of time and affects the purchasing power of consumers.