Ghana inflation rises for four months to 12.6% in December 2021

Inflation in Ghana has been on the upward trend in the last four months of 2021. The Ghana Statistical Service (GSS) announced 10.6 per cent for the month of September; in October inflation went up to 11 per cent, then rises to 12.2 per cent in November and rose 0.4 per cent to close the year 12.6 per cent , according to reports emailed to Ghana Business News.

According to the GSS, month-on-month inflation between November and December 2021 was 1.2 per cent. The ’Housing, Water, Electricity, Gas and other Fuels’ (20.7 per cent) recorded the highest inflation, it said.

This month, however, food inflation at 12.8 per cent is lower than last month food inflation at 13.1 per cent but higher than the average of the previous 12 months, which was 10.3 per cent.

“Food inflation’s contribution to total inflation decreased from 47.7 per cent in November to 45.2 per cent in December. Overall month-on-month food inflation was 1.2 per cent, which is higher than the twelve month national month-on-month rolling average of food inflation of 1.0 per cent. Fourteen out of the fifteenth food sub- classes recorded positive month-on-month inflation with Coffee and Coffee substitutes recording a deflation of -0.3 per cent,” the GSS said.

It adds that Non-food year-on-year inflation on average went up again in December compared to November from 11.6 per cent to 12.5 per cent. Two out of the 12 Non-food Divisions had the 12 months rolling average to be higher than the year-on-year inflation for December 2021.

Housing, Water, Electricity, Gas and other fuels recorded the highest inflation in December 2021 at 20.7 per cent, it said.

By Emmanuel Dogbevi
Copyright ©2022 by NewsBridge Africa
All rights reserved. This article or any portion thereof may not be reproduced or used in any manner whatsoever without the express written permission of the publisher except for the use of brief quotations in reviews.