Ghana’s inflation drops to 9.38% in September

The rate of inflation for September fell to 9.38 percent compared to 9.44 per cent recorded in August, the Ghana Statistical Service said on Wednesday.

This means that the general price level in the country increased by 9.38 percent in September 2010 relative to September 2009.

This is the 15th consecutive monthly fall since June 2009, when the rate stood at 20.74 per cent.

Briefing the media, Dr Grace Bediako, the Government Statistician, said favourable food prices helped the marginal decline in the rate.

“The inflation rate is being offset by seasonal food prices. The fact that there is downward pressure on inflation can be attributed to the food and non-alcoholic beverages group,” she said.

The food and non-alcoholic beverages group has been recording single digit inflation rate since January 2010, falling from 9.08 to 5.67 per cent in September.

On the other hand, non-food inflation though on the decline, has been recording double digit inflation, reaching 11.84 percent in September this year.

Inflation rates in the regions range from 5.60 percent in the Volta Region to 15.06 per cent in Greater Accra Region. Six regions – Central, Western, Volta, Eastern, Ashanti and Brong Ahafo- registered rates below the national rate of 9.38 per cent.

Dr Bediako said the inflation trend suggested that August, September and October were usually the months with the lowest inflation rates, but declined to predict the outlook for the remaining months.

Source: GNA