30.2 C
Accra
Sunday, November 28, 2021
No menu items!

Year-on-Year inflation rate for September inches down to 10.4 percent

Must Read

Kaneshie Market footbridge in bad state

By: Rachel Kakraba Commuters who use the Kaneshie Market footbridge for safe crossing to and from the market, have raised...

Prime Minister Mette Frederiksen visits Osu Castle to re-live Danish-Ghanaian History

BY OFORIWA DARKO On day two of the Prime Minister of Denmark’s working visit to Ghana, Mette Frederiksen, toured the...

NPP Parliamentary Caucus maintains 2022 Budget has not been rejected

By: Bubu Klinogo The New Patriotic Party (NPP) Majority in Parliament has asked Ghanaians to disregard reports that the 2022...
The year-on-year inflation rate for September 2020 recorded a marginal drop at 10.4 percent compared with 10.5 percent the previous month, driven by negative month-on-month food inflation.
Month-on-month inflation between August 2020 and September 2020 was -0.2 percent, predominantly driven by negative month-on-month Food inflation of -0.5 percent.
“The negative month-on-month inflation rate of -0.2 percent indicates that on average prices actually decreased slightly in the second consecutive month. This trend is visible across the different regions and driven by negative Food inflation,” Professor Samuel Annim, the Government Statistician said during a virtual press conference.
He said food contributed 47.6 percent to the year-on-year inflation in September 2020, only slightly higher than in the months prior to COVID-19.
Food inflation was 11.2 percent compared to 11.4 percent in August while non-food Inflation was 9.8 percent marginally up from August’s 9.9 percent.
  Inflation for locally produced items was 12.3 percent compared with 5.1 percent for imported items.
At the regional level, the overall year-on-year inflation ranged from 1.3 percent in the Upper West Region to 14.2 percent in Greater Accra Region.
Prof Annim said as, on  the  national  level, most  regions  recorded lower  year-on-year  inflation  this month  compared  to  previous  months  and  a  low  or  negative  month-on-month  inflation  rate
“Where the Upper West Region last month recorded the highest month-on-month inflation  3.4 percent,  this month it recorded the lowest month-on-month inflation of -6.9 percent of all regions.  This month Volta  Region recorded the highest month-on-month inflation of 0.1 percent,” Prof Annim said.
SourceGNA

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Kaneshie Market footbridge in bad state

By: Rachel Kakraba Commuters who use the Kaneshie Market footbridge for safe crossing to and from the market, have raised...

Prime Minister Mette Frederiksen visits Osu Castle to re-live Danish-Ghanaian History

BY OFORIWA DARKO On day two of the Prime Minister of Denmark’s working visit to Ghana, Mette Frederiksen, toured the Osu Castle, also known as...

NPP Parliamentary Caucus maintains 2022 Budget has not been rejected

By: Bubu Klinogo The New Patriotic Party (NPP) Majority in Parliament has asked Ghanaians to disregard reports that the 2022 Budget has been rejected. Last night,...

2022 Budget proceedings unconstitutional – Majority 

By: Bubu Klinogo Reports indicate that Parliament last night voted in an attempt to reject the 2022 Budget Statement and Economic Policy of the  government,...

#FixTheCountry Movement accuse Police of denying them access to Parliament

By Nathaniel Nartey Facebook: Nathaniel Nartey Twitter: @Annertey­_Nartey An intended presentation of a petition by members of the #Fix The Country Movement, to Parliament on November...

More Articles Like This