• About
  • Advertise
  • Privacy Policy
  • Contact
Sunday, July 13, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Year-on-year Inflation stands at 10.4% in December 2020

January 13, 2021
Stephen M.Cby Stephen M.C
in Economy, One Top Story, Top Stories
0
Year-on-year Inflation stands at 10.4% in December 2020

The national year-on-year inflation rate was 10.4% in December 2020, which is 0.6 percentage point higher than last month (9.8%), according to the latest Consumer Price Index (CPI) report released by Ghana Statistical Service (GSS) on 13th January 2021.

The GSS attributed the rise in inflation to the increased rate of food inflation without which, year-on-year inflation would have been lower than last month.

Month-on-month inflation between November 2020 and December 2020 was 0.9%, up from 0.3% in November. This is the highest since June 2020 (1.0%).

RelatedPosts

IMF Flags Ghana as High Risk for Debt Distress Despite Debt Being “Sustainable”

IMANI Flags Transparency Gaps in $360 Million World Bank Loan

NDC’s Ewurabena Aubynn Secures Historic Victory in Ablekuma North Rerun

Month-on-month inflation between September 2020 and October 2020 was 0.2 percent.

Since recording negative month-on-month inflation in August (-0.4%) and in September (-0.2%), monthly inflation has been on the rise starting from 0.2% in October.

“Average year-on-year inflation in the year 2020 was 9.9%. Quarter one, before COVID-19, recorded the lowest average year-on-year inflation (7.8%) and the second quarter the highest (11.0%)”, the Government Statistician, Prof. Annim Kobina said.

Prof. Anim
Prof. Annim Kobina

Just like previous months, just two of the thirteen Divisions had higher than average inflation rates; ’Housing, Water, Electricity, Gas’ (20.1% down from 21.0% last month) and ‘Food and Non-Alcoholic Beverages’ (14.1% up from 11.7% last month).

Food and Non-Food Inflation

Food contributed 59.1% to the total inflation. This is the highest contribution recorded since April 2020 when COVID-19 started to affect Ghana.

Within the Food Division, Vegetables was the Subclass with the highest rate of inflation of 24.2%, followed by Fish and other Seafood with 22.9%.

 Overall month-on-month Food inflation was 1.5%, a 1.2 percentage point higher than last month and higher than both on average in 2020 and in the same month last year.

Similar to Food, Alcoholic Beverages and Tabacco saw a relatively high month-on-month inflation (0.9%). In contrast to Food inflation, Non-Food inflation decreased, from 7.7% this month as compared to 8.3% last month and 8.5% on average in 2020. Month-on-month Non-Food inflation was 0.4%.

 After a few months of high inflation for Transport, December saw low inflation for Transport (4.8% year-on-year and 0.1% month-on-month as compared to an average 7.8% year-on-year and 0.4% a month-on-month for 2020.

 Compared to both the average month-on-month inflation for different Divisions in the regions on average over the year 2020 and to the same month-on-month inflation indicators for December 2019, December 2020 recorded comparatively high inflation numbers.

Regional Inflation

Regional analyses revealed that the overall year-on-year inflation ranged from 2.1% in the Upper West Region to 16.3% in the Greater Accra Region.

Except for Upper West Region (-0.4% food inflation and 4.6% non-food inflation), all regions recorded higher food inflation than non-food inflation.

Compared to last month, only Ashanti, Brong Ahafo, and Upper West Region had lower food inflation this month. The biggest difference was recorded in the Central Region (3.5% to 12.8%).

 On a month-on-month basis, Northern Region recorded the highest overall inflation (1.7%) and Food inflation (3.1%).

Imported and Local Inflation

According to the report, the inflation of imported goods was 6.1%, up from 5.6% last month, while the inflation of local goods was 12.1% on average, up from 11.5% in November.

Month-on-month inflation for imported goods was 0.3% whilst that for locally produced goods was 1.1%. On average in 2020, year-on-year inflation for imported goods was 11.8%, which is more than double the average year-on-year inflation in 2020 for imported goods (5.3%).

Especially in the second half of 2020, local goods recorded higher rates of inflation than imported goods.

Tags: December 2020ghanaGSSinflation
Please login to join discussion
Previous Post

NALAG urges Parliament to galvanize support for MMDCEs election

Next Post

STONEBWOY LOOKING ‘WAVY’ IN NEW GRILLS

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

AratheJay Opens Up About His Music Journey
Entertainment

AratheJay Opens Up About His Music Journey

July 12, 2025
IMF Team to Arrive in Ghana for Talks on Economy and 2025 Budget
Economy

IMF Flags Ghana as High Risk for Debt Distress Despite Debt Being “Sustainable”

July 12, 2025
Sudan Urges ICC Probe Into Foreign Interference
Africa

Sudan Urges ICC Probe Into Foreign Interference

July 12, 2025
NPP blamed for defeat in Ablekuma North rerun
General News

Basintale Criticizes NPP’s Poor Strategy In Ablekuma North 

July 12, 2025
COP Christian Tetteh Yohunu., IGP
General News

Police Assures Justice Over Violence in Ablekuma North Rerun Election

July 12, 2025
Erdogan Supports Iran’s Right To Self-Defence
Asia

Erdogan Hails PKK’s Disarmament

July 12, 2025
AratheJay Opens Up About His Music Journey
Entertainment

AratheJay Opens Up About His Music Journey

by Esther Korantemaa OffeiJuly 12, 2025
IMF Team to Arrive in Ghana for Talks on Economy and 2025 Budget
Economy

IMF Flags Ghana as High Risk for Debt Distress Despite Debt Being “Sustainable”

by Stephen M.CJuly 12, 2025
Sudan Urges ICC Probe Into Foreign Interference
Africa

Sudan Urges ICC Probe Into Foreign Interference

by Lawrence AnkutseJuly 12, 2025
NPP blamed for defeat in Ablekuma North rerun
General News

Basintale Criticizes NPP’s Poor Strategy In Ablekuma North 

by Lilian AhedorJuly 12, 2025
COP Christian Tetteh Yohunu., IGP
General News

Police Assures Justice Over Violence in Ablekuma North Rerun Election

by Evans Junior OwuJuly 12, 2025
Erdogan Supports Iran’s Right To Self-Defence
Asia

Erdogan Hails PKK’s Disarmament

by Comfort AmpomaaJuly 12, 2025
AratheJay Opens Up About His Music Journey
IMF Team to Arrive in Ghana for Talks on Economy and 2025 Budget
Sudan Urges ICC Probe Into Foreign Interference
NPP blamed for defeat in Ablekuma North rerun
COP Christian Tetteh Yohunu., IGP
Erdogan Supports Iran’s Right To Self-Defence
[/vc_row_inner]

Recent News

  • AratheJay Opens Up About His Music Journey
  • IMF Flags Ghana as High Risk for Debt Distress Despite Debt Being “Sustainable”
  • Sudan Urges ICC Probe Into Foreign Interference
  • Basintale Criticizes NPP’s Poor Strategy In Ablekuma North 
  • Police Assures Justice Over Violence in Ablekuma North Rerun Election
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.