Ghana’s inflation for September drops to 7.6 percent

The year-on-year inflation rate in Ghana according to the Ghana Statistical Service (GSS) has dropped to 7.6 percent in September.

Ghana’s inflation for September drops to 7.6 percent

This represents a 0.2 percent decrease from the 7.8 percent recorded in August.

The drop means that within the last 12 months, the rate of increase in prices of goods and services slowed to 7.6 percent in the month.

Alcoholic Beverages, Tobacco and Narcotics (12.2%) and Housing, Water, Electricity, gas and other fuels (10.0%) were the key drivers of September’s inflation.

The general price level of goods and services went down marginally (-0.1%) between August 2019 and September 2019.

The Food and non-alcoholic beverages group recorded a year-on-year inflation rate of 8.5 percent. This is 0.3 percentage point higher than the rate recorded in August 2019. Six subgroups recorded inflation rates higher than the group’s average rate of 8.5 percent.

Non-Food group recorded a year-on-year inflation rate of 7.0 percent in September 2019. The Non-Food inflation for September 2019 is 0.4 percentage point lower than the 7.4 percent recorded for August 2019. Tobacco and Narcotics (12.2%), Housing, water, electricity, gas and other fuels (10.0%), Transport (8.7%) and Recreation, sport and culture (7.5%) were the key drivers of the non-food inflation in September.

At the regional level, the year-on-year inflation rate ranged from 3.8 percent for Eastern region to 11.8 percent for Greater Accra region. Four regions (Greater Accra, Central, Upper West and Volta) recorded inflation rates above the national average (7.6%). Eastern region recorded the least inflation rate of 3.8 percent.

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