Inflation falls to 7.6% for September Featured

The Ghana Statistical Service says the inflation rate dropped to 7.6 per cent in September, down from 7.8 per cent in August.

The rate was influenced by a marginal reduction in prices of non-food items during the period of measurement.

This was announced by the Government Statistician, Professor Samuel Kobina Annim, who said there was a significant difference between food and non-food inflation.

The consumer price index (CPI) measures the change over time in the general price level of goods and services that households acquire for consumption, with reference to the price level in 2018, the base year, which has an index of 100.

Food vs non-food

The food and non-alcoholic beverages group recorded year-on-year inflation of 8.5 per cent. This is 0.3 percentage points higher than for the previous month, August. Six subgroups recorded inflation higher than the group average rate of 8.5 per cent.

The non-food group recorded a year-on-year inflation of 7.0 per cent in September. However, non-food inflation for September was 0.4 percentage points lower than the 7.4 per cent recorded in August.

Tobacco and narcotics (12.2 per cent), housing, water, electricity, gas and other fuels (10 per cent), transport (8.7 per cent) and recreation, sport and culture (7.5 per cent) were the key drivers of non-food inflation in September.

Regional differentials

On the regional level, year-on-year inflation ranged from just under 4 per cent for the Eastern Region to 11.8 per cent in Greater Accra.

Four regions (Greater Accra, Central, Upper West and Volta) recorded inflation above the national average (7.6 per cent).

The Eastern Region recorded the lowest rate ‒ 3.8 per cent.

August inflation

The inflation rate for August 2019 was 7.8 per cent.

This was recorded after the Ghana Statistical Service rebased the reference period (ie, changed the reference period for calculating the inflation rate) to 2018 from 2012.

Addressing inflation for August at a press conference, Professor Annim explained that there were 307 items in the new basket used to calculate the consumer price index, compared with the 267 in the old basket.

“The new series has taken into account changes in consumption pattern over time,” he said.


Rate this item
(0 votes)

6 comments

  • vurtilopmer
    Comment Link vurtilopmer Tuesday, 12 November 2019 07:24

    Attractive section of content. I just stumbled upon your site and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Any way I’ll be subscribing to your augment and even I achievement you access consistently fast.

    Report
  • UK commercial debt collection
    Comment Link UK commercial debt collection Tuesday, 05 November 2019 06:42

    This blog is definitely rather handy since I’m at the moment creating an internet floral website – although I am only starting out therefore it’s really fairly small, nothing like this site. Can link to a few of the posts here as they are quite. Thanks much. Zoey Olsen

    Report
  • D@5:A A83=0;
    Comment Link D@5:A A83=0; Sunday, 03 November 2019 19:18

    The very crux of your writing while appearing reasonable at first, did not really work very well with me after some time. Somewhere throughout the paragraphs you actually were able to make me a believer unfortunately just for a while. I still have got a problem with your jumps in assumptions and one might do nicely to fill in those gaps. In the event you can accomplish that, I would undoubtedly end up being impressed.

    Report
  • grinta invest
    Comment Link grinta invest Sunday, 03 November 2019 16:51

    Hi there very cool blog!! Man .. Beautiful .. Amazing .. I will bookmark your website and take the feeds alsoKI am glad to search out a lot of useful info right here within the put up, we need develop extra techniques in this regard, thanks for sharing. . . . . .

    Report
  • more help
    Comment Link more help Wednesday, 30 October 2019 22:26

    Some times its a pain in the ass to read what blog owners wrote but this website is very user pleasant! .

    Report
  • Kathyrn Veader
    Comment Link Kathyrn Veader Thursday, 24 October 2019 07:07

    I have been surfing on-line greater than 3 hours as of late, yet I never discovered any interesting article like yours. It?¦s pretty worth sufficient for me. Personally, if all website owners and bloggers made excellent content as you probably did, the internet shall be a lot more helpful than ever before.

    Report

Leave a comment

Latest Tweets

NPP CONDEMNS POLICE ATTACK ON LAW STUDENT PROTESTERS: The New Patriotic Party yesterday condemn... https://t.co/axawaALrgn
“GHOST OF SADA” HAUNTS MAHAMA: NORTHERN DEVELOPMENT AUTHORITY EXPOSES ROTTEN $9.5M TRICYCLE DEAL: https://t.co/RA9a4fhTtY
PRESIDENT LAUNCHES NATIONAL PLAN FOR FIGHTBACK AGAINST PLASTIC WASTE: With plastic pollution be... https://t.co/ZAwJ4LRh5Q
Follow The New Statesman on Twitter