INFLATION
DROPS
AMIDST
FEARS
OF
DWINDLING
STAFF
NUMBERS
Accra,
Dec.
9,
Ghanadot.com
-
Amidst
recent
complaints
that
it
lacks
the
required
calibre
and
number
of
staff,
the
Ghana
Statistical
Service
(GSS)
has
announced
a
lower
annual
rate
of
inflation
for
November
2006.
The
Acting
Government
Statistician
was
also
prompt
to
add
that
the
government's
target
of
single
digit
of
inflation
was
far
from
actualization.
"A
single
digit
inflation
rate
is
still a
possibility"
Professor
Nicholas
N.
N.
Nsowah-Nuamah
explained.
He
indicated
also
that
the
single
digit
inflation
target
of
government
would
be
attainable
only
when
prices
of
goods
making
up
items
in
the
total
economic
basket
came
down
considerably.
"It
is
difficult
to
put
a
time
frame
on
things.
I
cannot
say
for
sure
that
it
could
be
achieved
before
the
year
ends,"
he
explained.
The
rate
of
inflation
has
consistently
been
dropping
for
the
last
four
months
and
in
July
2006,
dropped
from
11.4
per
cent
to
11.2
per
cent
in
August.
September
was
10.8
per
cent
and
10.5
per
cent
in
October.
Government
in
its
2006
budget
and
supplementary
budget
said
it
was
aiming
at
hitting
a
single
inflation
target
by
the
years'
end,
but
this
seems
to
be
eluding
them
as
the
year
is
virtually
running
out
with
no
such
sign
in
the
horizon.
Economists,
financial
experts,
people
in
industry
and
market
players
when
contacted
all
said
it
was
not
impossible
to
achieve
the
single
digit
target.
However,
its
achievement
would
be
based
on
other
major
factors
including
the
ability
of
the
economy
to
increase
productivity
levels.
Ghanaian
major
export
products,
gold,
cocoa,
timber
and
other
traditional
exports
have
in
recent
years
seen
a
major
boost,
yielding
significant
turns
to
the
national
coffers.
A
major
setbacks
has
been
the
topsy-turvy
nature
of
crude
oil
prices
on
the
international
market
for
which
Ghana
spends
a
whooping
figure
in
excess
of
500
million
dollars
annually.
The
November
inflation
rate
dropped
0.2
per
cent
from
the
October
rate
of
10.5
per
cent.
The
National
Consumer
Price
Index
(CPI)
for
November
was
455.40
points
from
455.19
points
in
October
2006.
The
food
and
beverage
group
contributed
0.09
points
to
the
change
while
the
non-food
groups
contributed
0.12
points
to
the
change
in
the
index.
Within
the
food
and
beverage
group,
smoked
herrings
contributed
the
highest
of
0.13
points
to
the
upward
change
in
the
index
whilst
ground
maize
(-0.07
points)
and
banku
and
stew
(-0.04
points)
were
the
largest
downward
contributors.
For
the
non-food
group,
household
goods
contributed
to
the
upward
movement
of
the
index
with
0.08
points
whilst
transport
and
communication,
and
clothing
and
foot
ware
groups
had
the
largest
downward
effect
with
-0.02
points
each.
Petrol
and
shirt
materials
gave
-0.02
and
-0.01,
respectively.
The
GSS
Boss
said
the
monthly
change
or
rate
of
inflation,
the
CPI
of
November
2006,
compared
with
that
of
the
previous
month,
was
0.0
per
cent
,"representing
a
state
of
relative
stability
in
November."
Last
week,
Prof.
Nsowah-Nuamah
said
even
though
the
Service
had
been
able
to
come
out
with
six
publications
over
the
last
five
years,
"there
are
inherent
challenges
such
as
unattractive
salaries
and
poor
working
conditions
and
a
high
attrition
rate
of
professional
staff."
"Our
inability
to
attract
a
high
level
professionals
in
critical
areas
of
statistical
data
analysis
with
limited
statistical
infrastructure,
especially
at
the
district
level.
Prof.Nsowah-Nuamah
said
they
lost
a
total
of
94
critical
sector
staff
over
the
last
two
years
due
to
unattractive
working
conditions,
notably
61
employees
in
2004,
33of
which
are
professionals,
23
persons
in
2005
again
of
19
which
are
professionals.
This
year
10
members
of
staff
quit,
six
were
high
end
trained
professionals."
He
called
for
an
immediate
rationalization
of
salaries
and
other
working
conditions
to
change
to
make
the
provision
of
data
for
development
accurate,
reliable
and
enjoyable
by
those
involved
in
providing
them.
Ghanadot.com
