THE YEAR-on-year inflation rate as measured by the consumer price index (CPI) for September this year was 7.6%, down by 0.2 percentage point from the 7.8% recorded in August 2019.
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.
The general price level of goods and services went down marginally (-0.1%) between August 2019 and September 2019.
Food and non-food inflation
The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 8.5%.
This is 0.3 percentage point higher than the rate recorded in August 2019. Six subgroups recorded inflation rates higher than the group’s average rate of 8.5%.
The non-food group recorded a year-on-year inflation rate of 7.0% in September 2019. This is 0.4 percentage point lower than the 7.4% recorded for August 2019.
Regional differentials
At the regional level, the year-on-year inflation rate ranged from 3.8% for Eastern Region to 11.8% 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%.
A business desk report