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Wednesday 14 December 2016

Ghana consumer inflation eases to 15.5 pct in November

Ghana's annual consumer price inflation eased to 15.5 percent in November from 15.8 percent the previous month, driven by lower charges for utility and services, the statistics office said on Wednesday.


The figure brings the government closer to its year-end inflation target of 13 percent, plus or minus 2 percentage points.
The major commodities exporter is implementing a three-year aid programme with the International Monetary Fund to remedy fiscal problems including inflation that for years has exceeded government targets.
"The easing is mainly attributable to non-food group components such as utilities, and recreation and culture," deputy statistician Baah Wadieh told journalists in Accra.
Year-on-year non-food inflation for November declined to 18.7 percent from 19.4 percent in October, while food inflation rose to 9.3 percent from 8.7 percent, the office said. The monthly change was 0.8 percent.
The West African nation elected opposition leader Nana Akufo-Addo as president in a closely fought election on Dec 7., ousting President John Mahama, whose government has been battling an economic slowdown since he took office in 2012.
© Reuters News

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