25.2 C
Accra
Sunday, August 14, 2022

Ghana's inflation rate for October, 2018 drops to 9.5%

Must Read

Be calm, measures to address cedi fall underway – Bank of Ghana

SOURCE: GRAPHICONLINE The Bank of Ghana (BoG) has urged the public to remain calm as it implements measures to arrest...

Government to review mining agreements, audit large gold mining firms – Mireku Duker

By Nicholas Osei-Wusu Government will soon undertake a review of existing mining Development Agreements with the aim of optimizing benefits...

PRINPAG elects Lawyer Edwin Arthur as President for another 3yr term

Story: Franklin ASARE-DONKOH Veteran Journalist and Managing Editor of the New Independent, Lawyer Andrew Edwin Arthur has been re-elected as...

The year on year inflation rate as measured by the Consumer Price Index (CPI) stood at 9 point 5 percent (9.5%) in October 2018 down by Zero point Three percent (0.3%) points from the Nine point Eight percent (9.8%) recorded in September, 2018 with the monthly change of Zero point Seven percent (0.7%) compare with the rate of Zero point Zero percent (0.0%) recorded in September, 2018.

At the news conference in Accra, Acting Government Statistician of Ghana Statistical Service, (GSS) Baah Wadieh said, the year- on-year non-food inflation rate for the same period was Nine point Eight percent (9.8%) compared with the rate of Ten point Three percent (10.3%) recorded in September, 2018.

“The year-on -year food inflation rate for October 2018 was Eight point Nine percent (8.9%), compared with Eight point Seven percent (8.7%) recorded in September, 2018.

The year-on-year inflation rate for imported items Eleven point One percent (11.1%) was Two point Three (2.3%) points higher than that of locally produced items Eight point Eight percent (8.8%)”.

He said “the main price drivers for non-food inflation rate were Transport Thirteen point Nine percent (13.9%), clothing and footwear Thirteen point Four percent (13.4%), Recreation and Culture, Twelve point Seven percent,  (12.7%) and furniture, Household Equipment and Routine Maintenance, Eleven point Nine percent, (11.9%).

The main price drivers for the food inflation rate were coffee, tea and cocoa, Thirteen point One percent, (13.1%), Fruits, Eleven point Four percent, (11.4%), Food and Food Products, Ten point Five percent, (10.5%), Mineral Water, Soft drinks, fruit and vegetable juice Ten point Four percent, (10.4%), meat and meat products, Ten point One percent, (10.1%) and vegetable, Nine point Six percent, (9.6%)”.

On Regional bases, (Upper West, Bono-Ahafo, Western, Northen and Ashanti) recorded inflation rate above the national average rates of Nine point Five percent, (9,5%).

Upper West Region recorded the highest year-on-year inflation rate of Eleven point Six percent, (11.6%), followed by Bono-Ahafo region, Ten point Four percent, (10.4%), while the Upper East Region recorded the lowest year-on-year inflation rate, Eight point Three percent, (8.3%) in October, 2018.

The October, 2018 rate of Nine point Five percent, (9.5%) is the lowest since January 2013, GSS noted.

Story Edzorna Francis Mensah

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Be calm, measures to address cedi fall underway – Bank of Ghana

SOURCE: GRAPHICONLINE The Bank of Ghana (BoG) has urged the public to remain calm as it implements measures to arrest...

Government to review mining agreements, audit large gold mining firms – Mireku Duker

By Nicholas Osei-Wusu Government will soon undertake a review of existing mining Development Agreements with the aim of optimizing benefits of the sector to the...

PRINPAG elects Lawyer Edwin Arthur as President for another 3yr term

Story: Franklin ASARE-DONKOH Veteran Journalist and Managing Editor of the New Independent, Lawyer Andrew Edwin Arthur has been re-elected as the President of the Private...

Ministry of Foreign Affairs begins investigations into alleged issuance of Ghanaian passports to foreigners

Story by Hannah Dadzie The Ministry of Foreign Affairs and Regional Integration says it is investigating the alleged issuance of Ghanaian passports to foreigners. The...

Volta Region: Young people urged to pursue their education with all seriousness

By Seraphine Nyuiemedi The Volta Regional Director for the Department of Gender, Thywill Eyra Kpe has urged young people especially, girls to pursue their education...

More Articles Like This