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Marginal rise of inflation in October

The year-on-year inflation rate for October increased slightly to 7.7 percent, from the 7.6 percent recorded in September 2019.

Professor Samuel Kobina Annim, the Government Statistician, who announced this on Wednesday, attributed the increase to prices in the transport sub-sector.

Food and non-alcoholic beverages recorded a year-on-year inflation rate of 7.0 percent while the non-food group recorded a rate of 8.2 percent.

He said alcoholic beverages, tobacco, and narcotics recorded 13.2 percent while transport recorded 12.9 percent.

Prof. Annim said between September and October 2019, the price level of food and non-alcoholic beverages went down slightly by -1.2 percent.

This decline was predominantly driven by a decline in price levels of vegetables and fruits.

The inflation of imported goods was 8.9 percent while that of local goods was 5.9 percent on average.

On a regional basis, three regions recorded inflation rates above the national average of 7.7 percent and these were: Greater Accra, 11.8 percent, Central, 9.2 percent, and Volta, 8.9 percent.

Upper East Region recorded the lowest year-on-year inflation rate of 3.6 percent in October 2019, Prof. Annim said.

Story by: Naa Anyema

About Naa Anyema Collison

A broadcast journalist who has an interest in financial happenings in the world of business. Currently the face of AM News Host of Kids House Business Desk @Adoa Television

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