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September 2019 inflation drops by 0.2%

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The Inflation for September, 2019 (the year-on-year) as measured by the Consumer Price Index (CPI) down by 0.2% to record 7.6 point, from the 7.8 percent recorded in August 2019.

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

Addressing the media in Accra, the Government Statistician of Ghana Statistical Service (GSS), Professor Samuel Kobina Annim, said “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”.

According to him “the Food and non-alcoholic beverages group recorded a year-on-year inflation rate of 8.5 percent”, adding that, six sub-groups recorded inflation rates higher than the group’s average rate of 8.5 percent.

The Non-food group recorded a year-on-year inflation rate of 7.0 percent in September 2019.

Alcoholic Beverages, The 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, professor Annim submitted.

He said, “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.

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, with reference to the price level in 2018, the base year, which has an index of 100.

Story filed by Edzorna Francis Mensah

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