Ghana: September inflation drops to 9.8%

Google+ Pinterest LinkedIn Tumblr +

Ghana’s inflation rate for September fell to 9.8%, down by 0.1% from the 9.9% recorded in the previous month.

The year-on-year rate was, however, measured without the revised economic rebasing figures, the country statistical body said in Accra.

The monthly change rate for September 2018 was 0.0 per cent compared to 0.0 per cent recorded for August 2018.

The price drivers for September 2018 were mainly due to a fall in the rates of inflation for the Education group (1.0%), Clothing and Footwear group (0.9%) among others.

“In any month, the combinations of factors such as government policy, season, exchange rate, interest rate, etc. may influence the rate of inflation.

“The prices of some items will rise while the prices of some other items will fall. The overall rate of inflation will rise if the rise in the prices of items is more than the fall in the prices of items and vice versa” a statement by the Ghana Statistical Service said.

The rate of inflation for September 2018 is the percentage change in Consumer Price Index over the twelve-month period, from September 2017 to September 2018.


About Author

Leave A Reply