Ghana’s inflation rate for September 2017 reached 12.2 percent.
This is a marginal drop of 0.1 percent in the inflation rate compared to the 12.3 percent recorded in August 2017.
The inflation rate measures the average change in the prices of goods and services purchased by consumers within a given year.
The Ghana Statistical Service (GSS) attributed the decline in inflation to the onset of the harvest season which has increased supply for most food items.
Deputy Government Statistician, Anthony Amuzu also explained to Citi Business News that the rise in fuel prices had little impact on the inflation level this time around.
“In August, there were about four items that recorded inflation rates that were higher than the group’s average but this time around, it is only one which is the fish and sea foods category. Also, we are entering the harvesting season which has led to increased supply of some major foodstuff like vegetables. Comparing the fish and sea foods to the other sub categories under the food group, they are not cultivated hence are also not seasonal in nature,” he explained.
Meanwhile inflation rate for food items such as meat, fish, fruits and vegetables stood at 8.1 percent in September with inflation rate for non-food categories such as transport, education and recreation and culture recording 14.1 percent.
In addition, the Upper West region recorded the highest inflation rate of 13.1 percent while the Volta region recorded the lowest inflation rate of 10.5 percent.
By: Pius Amihere Eduku/citibusinessnews.com/Ghana