Inflation drops to 12.2%

By Sam Edem

The consumer price inflation (CPI) for September reduced to 12.2% from 12.3% recorded in the previous month – August.

Presenting the new CPI during the monthly economic statistics report - Deputy Government Statistician, Anthony Amuzu, noted that in spite of this drop in the CPI rate, there was no change in the general price level in the country between August and September 2017.

According to the September report, non-food inflation dropped to 14.1% against 14.7% recorded in August, whilst food inflation increased to 8.1% from 7.4% within the same period.

Explaining the reasons behind the September figures, Mr. Amuzu highlighted transport, recreation and culture, furnishing, household equipment and routine maintenance, clothing and footwear, and miscellaneous goods and services as the main “price driver” of the new non-food inflation rate. He added that the main driver for food inflation rate was fish and sea food.

A total of seven regions in the country including; Upper West, Greater Accra, Brong Ahafo, Western, Ashanti, Eastern and Central Regions recorded inflation rates higher than the national average of 12.2 per cent.

Upper West Region recorded the highest year-on-year inflation rate of 13.1%, with Greater Accra Region trailing behind with a 12.8% CPI rate.

On the contrary, the Volta Region recorded the lowest year-on-year inflation of 10.5%, Upper East - 10.6% and the Northern Region 10.7% respectively; all of which were below the national average.