Ghana’s inflation for October remains at 9.38%

Ghana’s inflation rate has remained unchanged at 9.38% in October, the Ghana Statistical Service has said. The inflation rate for the month of September was 9.38% a fall from 9.44% in August 2010.

The rate for October ends the 15-month downward spiral of the country’s inflation.

The rate of inflation was a high of 20.9% in March 2009 and it continued to fall till it hit 13.2% in March 2010.

In April 2010 inflation fell to 11.66% a reduction of 1.6% as against the Bank of Ghana’s projected fall of 1.1%.

In May this year, Dr. Seth Abbey, head of the Think Tank, Centre for Policy Analysis (CEPA) had warned that government should get on a broad economic front, adding ” you can’t be chasing inflation at the expense of everything else. Inflation is not an end in itself,” he said.
By Emmanuel K. Dogbevi