The general price level of goods and services increased by 9.3 percent in November 2018, the least recorded in 5 years and 10 months, the Ghana Statistical Service (GSS) data has revealed.
The last time inflation recorded a figure close to the current rate was in January 2013 when it recorded 8.8 percent.
The monthly change rate for November 2018 was 0.7 percent, meaning the general price level went up by 0.7 percent between October and November 2018.
Further details of the figures show that the two main components—food and non-food—all saw a decline in their rates.
The food inflation rate for November 2018 was 8.6 percent compared with 8.9 percent recorded in October 2018; whereas, the non-food inflation rate for November 2018 was 9.7 percent compared with 9.8 percent recorded in October 2018.
The main price drivers for the non-food inflation rate were Transport (13.7%), Recreation and Culture (13.3%), Clothing and footwear (12.6%), Furnishing, Household Equipment and Routine Maintenance (11.4%) and Miscellaneous goods and services (10.3%).
The price drivers for the food inflation rate were coffee, tea and cocoa (12.8%), Fruits (11.0%), meat and meat products (10.2%), mineral water, soft drinks, fruit and vegetable juices (9.4%), food and food products not elsewhere classified (9.4%), and Vegetables (9.1%).
The inflation rate for imported items was 11.1 percent in November 2018, same as the rate recorded in October 2018. However, that of locally produced items was 8.6 percent in November 2018 compared to the 8.8 percent recorded in October 2018.
Five regions (Upper West, Brong Ahafo, Western, Ashanti and Northern) recorded inflation rates above the national average rate of 9.3 percent.
Upper West region recorded the highest year-on-year inflation rate of 11.5%, followed by Brong Ahafo region (10.2%), while the Upper East region recorded the lowest year-on-year inflation rate (7.6%) in November 2018.