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Year-on-Year inflation rate for September inches down to 10.4 per cent


  14 Octobre      12        Economie (10031),

   

Accra, Oct. 14, GNA- The year-on-year inflation rate for September 2020 recorded a marginal drop at 10.4 per cent compared with 10.5 per cent the previous month, driven by negative month-on-month food inflation.
Month-on-month inflation between August 2020 and September2020 was -0.2 per cent, predominantly driven by negative month-on-month Food inflation of -0.5 per cent.
“The negative month-on-month inflation rate of -0.2 per cent indicates that on average prices actually decreased slightly in the second consecutive month. This trend is visible across the different regions and driven by negative Food inflation,” Professor Samuel Annim, the Government Statistician said during a virtual press conference.
He said food contributed 47.6 per cent to the year-on-year inflation in September 2020, only slightly higher than in the months prior to COVID-19.
Food inflation was 11.2 per cent compared to 11.4 per cent in August while non-food Inflation was 9.8 per cent marginally up from August’s 9.9 per cent.
Inflation for locally produced items was 12.3 per cent compared with 5.1 per cent for imported items.
At the regional level, the overall year-on-year inflation ranged from 1.3 per cent in the Upper West Region to 14.2 per cent in Greater Accra Region.
Prof Annim said as  on  the  national  level, most  regions  recorded  a  lower  year-on-year  inflation  this month  compared  to  previous  months  and  a  low  or  negative  month-on-month  inflation  rate
“Where the Upper West Region last month recorded the  highest  month-on-month  inflation  3.4 per cent,  this  month  it recorded  the  lowest  month-on-month  inflation of -6.9 percent  of all regions.  This  month Volta  Region  recorded  the  highest month-on-month inflation of 0.1 per cent,” Prof Annim said.

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