Ghana’s inflation dropped to 8.40% in September 2011

Ghana’s annual inflation rate went down marginally to 8.40 per cent in September 2011 from 8.41 per cent in August 2011.
     
The monthly inflation change was negative 1.53 per cent.
     
Dr Grace Bediako, Government Statistician announced this at a press conference in Accra on Wednesday.
     
Dr Bediako said even though inflation in the non-food group had been declining, it remained the major contributor to the upward pressure on the general price level, dropping from 12.44 per cent since June 2011 to 11.30 per cent in September 2011.
     
She said six sub-groups in the non-food group’s average rate included Transport (23.01 per cent), miscellaneous goods and services (18.22 per cent), Clothing and Footwear (13.50 per cent), Furnishings, Household equipment (12.95), Alcoholic beverages, Tobacco and narcotics (12.07 per cent).
     
“The food and non-alcoholic beverages group, on the other hand, recorded a single digit inflation rate over the past 12 months ranging between 5.67 per cent in September 2010 and 3.74 per cent in September 2011,” she said.
     
Sub-groups that recorded comparatively high inflation rates in the food and non-alcoholic beverages group in September 2011 were coffee, tea and Cocoa (14.31 per cent), Sugar, jam, honey syrups, chocolate and confectionary (13.38 per cent), Meat (12.44 per cent), Bread and cereals (7.08 per cent ) recording about three or more times the group’s average inflation.
     
On regional basis, inflation ranged from 5.66 per cent to 9.93 per cent with the Central, Greater Accra and Ashanti recording inflation rates above the national rate of 8.40 per cent.

Source: GNA