Inflation dey rise for Ghana despite new consumer price index wey Central Bank introduce
Inflation rate for Ghana rise catch high levels in de last four months after Central Bank of Ghana introduce new consumer price index which dem dey take measure inflation.
Businessmen for Ghana say dem dey make losses on dema businesses sake of how di cedi make unstable. Inflation shoot catch 8.2 per cent in November from 7.7% in October, Government Statistician Samuel Kobina Annim talk media. Dis dey represent 0.5% increase which be de highest since dem rebase Consumer Price Index around August. Food items wey record inflation Food items like fruits and nuts increase by 17.1%, ready-made food by 12.7%, Cocoa drinks shoot up 12.6%), fruits and vegetables, 12.3%, also coffee and coffee substitutes, 12.2% while vegetables record 9.2% increase. These food items record inflation figures which high pass de national average. Non-food inflation rates Non-food year-on-year inflation for November 2019 stand at 8.0%, which be a drop from 8.2% in October 2019. Inflation for locally-produced items stand at 8.4% while inflation for imported items dey 7.5%. Other items wey record high inflation include narcotics which dey stand at 46.7%, postal and courier services 32.5%, Jewellery and watches, 22.1%, solid fuels, 17.2% wey passenger transport by road dey at 15.0%. Regional inflation rates Greater Accra inflation rate dey stand at 12.8%, Central see 10.0% wey Volta also chop 9.5%. All these rates be higher pass de national average of 8.2%. Why inflation dey happen Central Bank project say after de rebasing dem go try keep inflation with target range but economic analysts say de fall of de Ghana cedi against de US Dollar dey contribute to market price increase den stuff. Economists dey argue say US Dollars no chaw for de economy inside, so until say government go create systems wey go allow de economy hold more dollars den price increase go continue.