Ghana inflation hits 17% in November driven by housing, gas and electricity

The annual inflation rate rose to a four-year high of 17.0 per cent in November up from 16.9 per cent in October, driven by housing, gas and electricity.

The rate is the highest since March 2010.

“The main price drivers were housing, water, gas, electricity and other fuels” Mr Baah Wadieh, Deputy Government Statistician, said at a media briefing in Accra on Wednesday.

The monthly change rate for November 2014 was 0.9 per cent compared to 2.7 per cent recorded for October 2014.

Mr Wadieh said food inflation rose 6.6 percent while non-food inflation stood at 24.1 per cent in November.

“The year-on-year non-food inflation rate is more than three and half times higher than the food inflation rate,” Mr Wadieh said.

He said the main drivers for the non-food inflation rate were housing, water, electricity, gas and other fuels which went up by 36.2 per cent and transport, which was also up by 30.2 per cent.

The price drivers for the food inflation rate were coffee, tea and cocoa, mineral water, soft drinks, fruits and vegetable juices, among others.

The Central Region recorded the highest regional year-on-year inflation rate of 19.5 per cent while the Upper West Region recorded the lowest of 13.1 per cent.

Six regions, Central, Northern, Eastern, Upper East, Ashanti and Western recorded inflation rates above the national average of 17.0 per cent.

Source: GNA