Consumer inflation for September has recorded a slight dip from 9.9 percent in August to 9.8 percent, representing a 0.1 percentage point drop. This is according data released by the Ghana Statistical Service (GSS).
The Consumer Price Index (CPI) measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption.
The data released reveals that the Non-food group is the main attributing factor to this marginal drop in the inflation.
The Non-food group recorded a year-on-year (y-o-y) inflation rate of 10.3 percent in September 2018, compared to the 10.8 percent recorded for August 2018.
Five subgroups recorded inflation rates higher than the group’s average rate of 10.3 percent. Transport recorded the highest inflation rate of 14.4 percent, followed by clothing and footwear with 14.3 percent.
Recreation and culture scored 13.9 percent, whiles furnishings, household equipment and routine maintenance represented 12.4 percent with miscellaneous goods and services at 11.5 percent.
Inflation was lowest in the Housing, Water, Electricity, Gas and Others Fuels subgroup with 3.0 percent.
The Food and non-alcoholic beverages group recorded an inflation rate of 8.7 percent. This is 0.8 percentage point higher than the rate recorded in August 2018. Six subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 8.7 percent.
At the regional level, the inflation rate ranged from 8.4 percent in Upper East region to 11.9 percent in Upper West region.
Five regions, namely; Upper West, Brong Ahafo, Western, Northern and Ashanti recorded inflation rates above the national average rate, whereas the Eastern region recorded the same inflation rate as the national average of 9.8 percent.
By Joshua W. Amlanu