Govt, BoG miss inflation target for 2013

Both government and the Bank of Ghana missed their inflation target for 2013 as it ended the year at 13.5 percent.

The average change in price of goods and services within a period went up marginally by 0.3 percent from November.

While government had targeted an inflation rate of 9.0 percent, the Central Bank has projected an end year inflation of 9 percent + or minus 2.

According to the Ghana Statistical Service, food inflation dropped by 0.1 percent to 7.2 percent in December, while non-food inflation inched up from 17.6 percent to 18.1 percent in December.

Dr. Philomena Nyarko is the Government Statistician.

Meanwhile, the Central region overtook the Western region to record the highest inflation of 14.8 percent.

The Greater Accra and Western regions recorded an inflation rate of 14.4 and 14.0 percent respectively.

The Upper West region recorded the least inflation of 6.2 percent.