Inflation drops to 12.2% in September

Ghana Statistical Service (GSS) has announced that inflation rate for September 2017 has dropped to 12.2%, from the 12.3% recorded in August.

The Deputy Government Statistician, Anthony Amusu, speaking at a press conference in Accra yesterday said: “The year-on-year food inflation rate for September 2017 was 8.1%, compared with 7.4% recorded in August 2017.

“The year-on-year non-food inflation rate (14.1%) is more than one and half times that of the food inflation rate (8.1%). In September 2017, the year-on-year inflation rate for imported items (13.5%) was 1.9 percentage points higher than that of locally produced items (11.6%).

“The main ‘price drivers’ for the non-food inflation rate were transport (21.9%), recreation and culture (18.7%), furnishing, household equipment and routine maintenance (17.6%), clothing and footwear (16.2%) and miscellaneous goods and services (15.4%).

“The ‘price drivers’ for the food inflation rate was fish and sea food (16.1%).

“Seven regions (Upper West, Greater Accra, Brong Ahafo, Western, Ashanti, Eastern and Central) recorded inflation rates higher than the national average of 12.2%.

“Upper West Region recorded the highest year-on-year inflation rate of 13.1%, followed by Greater Accra region (12.8%), while the Volta Region recorded the lowest year-on-year inflation (10.5%) in September 2017.”


Story: Business Desk

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