Inflation Shoots Up To 13.8%

Inflation has shot up by 0.3 percent to record a rate of 13.8 percent in January this year. This is on the back of the depreciation of the Cedi as well as increases in utility tariffs. The monthly change in the rate was however 3.9 percent. According to the Ghana Statistical Service, both food and non food inflation went up, but that of non-food inflation was significant. Prices of housing, water, electricity, gas and other fuels; transport as well as clothing and footwear which went up significantly contributed to the rise in inflation. At a press briefing Wednesday, the Acting Head of Economics Statistics at the Ghana Statistical Services, Edward Asuo Afram disclosed to Radio XYZ that housing inflation went up more than 37 percent while transport went up with more than 21 percent. Meanwhile, the Ashanti region recorded the highest inflation of 16.9 percent in January. Together with the Central and Eastern regions, it recorded inflation higher than the national average. The Upper East region recorded the least inflation of 10.5 percent.