Consumer inflation drops to record 12.2% in September Featured

Oct 13, 2017

The consumer price inflation for September is 12.2 percent, a drop from 12.3 percent in August.
This represents a slight dip of 0.1 percentage point.
The consumer price index measures the changes over time in the general price level of goods and services that household acquire for the purpose of consumption.
The Deputy Government Statistician, Anthony Amuzu noted that “in September, only one sub-group of the food group recorded a higher rate than the group average, compared with three in August.”
Amuzu indicated that, this is a contributing factor to the drop seen in September.
In the food group, the fish and sea food sub-group was the price driver. It recorded 16.1 percent, which is almost twice the group average of 8.1 percent.
The other two sub-groups; meat and meat products, and coffee, tea and cocoa dropped, contributing to the slight fall in the inflation rate.
The price drivers in the non-food group were transport with 21.9 percent, recreation and culture 18.7 percent, furnishing, household equipment and routine maintenance 17.6 percent, clothing and footwear 16.2 percent, and miscellaneous goods and services 15.4 percent.
These price drivers are higher than the non-food group average of 14.1 percent.
The rate for imported items was 13.5 percent, a 1.9 percentage points higher than that of the locally produced items of 11.6 percent.
At the regional level, Upper West Region recorded the highest inflation rate of 13.1 percent, followed by Greater Accra with 12.8 percent, while the Volta Region recorded the lowest rate of 10.5 percent.
Seven regions; Upper West, Greater Accra, Brong Ahafo, Western, Ashanti, Eastern and Central, recorded rates higher than the national average of 12.2 percent.

By Joshua W. Amlanu

Last modified on Thursday, 12 October 2017 16:48