Inflation falls to 12.2 per cent

The annual consumer price inflation dropped to 12.2 per cent in September from 12.3 per cent 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 per cent compared to 14.7 per cent the month before, whilst food inflation rose to 8.1 per cent in September from 7.4 per cent 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 sea food.

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 per cent.

Upper West Region recorded the highest year-on-year inflation rate of 13.1 per cent, followed by Greater Accra Region 12.8 per cent.

The Volta Region recorded the lowest year-on-year inflation 10.5 per cent in September 2017; Upper East recorded 10.6 per cent; and the Northern Region 10.7 per cent.