September Inflation drops

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

The Deputy Government Statistician, Anthony Amusu, speaking at a press conference in Accra on Wednesday, October 11 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.”

Source: Ghana/