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Inflation drops to 12.2% in Sept.

BY ROSEMOND BOATENG ADDAI rosemond.adjetey@yahoo.com


THE CONSUMER Price Index (CPI) which measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption for the month of September 2017 recorded 12.2%.

Mr Anthony Amuzu, Deputy Government Statistician, Ghana Statistical Service, explained that the year-on-year inflation rate went down by 0.1 percentage point from the 12.3% recorded in August 2017.

“This rate of inflation for September 2017 is the percentage change in the CPI over the 12-month period, from September 2016 to September 2017,” he said.

Mr Amuzu explained that the monthly change rate for September 2017 was 0.0 % as compared to -0.2 in August 2017.

The Statistician said food and non-alcoholic beverages group recorded a year-on-year inflation rate of 8.1%.

“This is 0.7 percentage point higher than the 7.4% recorded in August 2017. One

sub-group of the food and non-alcoholic beverages group recorded an inflation rate higher than the group’s average rate of 8.1%. The sub-group was fish and sea food 16.1%,” he said.

Mr Amuzu also highlighted that the non-food group recorded a year-on-year inflation rate of 14.1% in September 2017, compared with the 14.7% recorded in August 2017.

He said “five sub-groups of the non-food group recorded year-on-year inflation rates higher than the group’s average rate of 14.1%. Transport recorded the highest rate of 21.9% followed by 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%.

Regional differentials

At the regional level, the year-on-year inflation rate ranged from 10.5% in the Volta Region to 13.1% in the Upper West.

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

Volta Region recorded the lowest inflation rate of 10.5%.

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