Business News of Thu, 12 Oct 20173
Inflation falls to 12.2%
The annual consumer price inflation dropped to 12.2 percent in September from 12.3 percent in the previous month, however, the general price level between August 2017 and September 2017 did not change.
Mr Anthony Amuzu, Deputy Government Statistician presenting the figures in Accra on Wednesday said the non-food inflation fell to 14.1 percent compared to 14.7 percent the month before, whilst food inflation rose to 8.1 percent in September from 7.4 percent in the preceding month.
He said the annual non-food inflation rate was more than one and half times of that of the food inflation rates.
Mr Amuzu said the main “price driver” for non-food inflation rate were transport, recreation and culture, furnishing, household equipment and routine maintenance, clothing and footwear, and miscellaneous goods and services.
He said the driver for food inflation rate was fish and seafood.
Seven Regions; Upper West, Greater Accra, Brong Ahafo, Western, Ashanti, Eastern and Central Regions recorded inflation rates higher than the national average of 12.2 percent.
Upper West Region recorded the highest year-on-year inflation rate of 13.1 percent, followed by Greater Accra Region 12.8 percent.
The Volta Region recorded the lowest year-on-year inflation 10.5 percent in September 2017; Upper East recorded 10.6 percent; and the Northern Region 10.7 percent.