Business News of Sunday, 16 December 2018Source: ghananewsagency.orgFuel prices to decline by 5.8 percent averagely this weekplay videoMr Pius Enam Hadzide is a Deputy Minister of InformationPrices of petroleum products are expected to decline this week following the stability of the cedi against the major international trading currencies and reduction of world prices of fuel. Mr Pius Enam Hadzide, a Deputy Minister of Information, addressing journalists in a news briefing, in Accra on Sunday, said the prices of petrol would drop averagely by 5.8 percent, diesel by 4.8 percent and liquefied petroleum gas (LPG) by 2.46 percent. The Deputy Minister announced that the year-on-year inflation reduced from 9.5 percent in October 2018 to 9.3 percent in November, noting that, the reduction was the lowest in six years. In December 2016, the inflation rate was hovering around 15.4 percent and reduced to 11.8 percent in December 2017, according to statistics from the Ghana Statistical Service. Measures such as fiscal consolidation, monitoring policy tightening, exchange rate stability and other prudent fiscal policies aided the reduction, he added.

Source: GhanaWeb December 16, 2018 18:11 UTC