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EconomyThu, 13 Jan, 22

December Inflation Up Marginally

December Inflation Up Marginally

Inflation for the month of December 2021 has gone up marginally from the previous month, November 2021. The National inflation for the month has been reported to be 12.6 percent, 40 basis point rise from the November 12.2 percent according to the Ghana Statistical Service (GSS).

“For the sixth month in a row, year-on-year consumer inflation has consistently increased, going up by 4.8 percentage points between June 2021 (7.8%) and December 2021 (12.6%),” the Government Statistician noted.

GSS added that “month-on-month inflation between November and December 2021 was 1.2%. ’Housing, Water, Electricity, Gas and other Fuels’ (20.7%) recorded the highest inflation.”

Food inflation for the month (12.8 percent) is higher than last month's food inflation of 13.1 percent but lower than the average of the previous 12 months (10.3 percent). More so, overall month-on-month food inflation was 1.2 percent, which is also higher than the twelve-month national month-on-month rolling average of food inflation of 1.0 percent.

“Food inflation’s contribution to total inflation decreased from 47.7% in November to 45.2% in December,” it added.

On the basis of locally produced and imported food inflation, the latter recorded10.4 percent higher than the 9.8 percent recorded for November while the former recorded 13.3 percent also a marginal rise from 13.0 percent recorded in November 2021.

 

Source: Mohammed Bomanso Issah (Real Estate Times Africa)

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