It seems the election pressure on inflation has taken a U-Turn as the rate for October dips from 17.2% in September to 15.8% in October 2016.
The rate for last month was blamed on uncertainties among traders who were not certain about the stability of the Cedi.
But the rate has seen a sharp decrease to 15.8%, the lowest since the beginning of the year.
Inflation on imported items also went down from 18.7% in September to 17.3%in in October and that on locally produced items dropped too from 16.6% in September to 15.1% in October.
The food and non-alcohol beverages group recorded a year-on-year inflation rate of 8.7%. This is 0.3 percentage point higher than the rate recorded in September.
The main price drivers for the non-food inflation rate were Transport 27.2%, Education 25.8%, Recreation and Culture 24.0%, Housing, Water, Electricity, Gas and other fuels 23.1%, Furnishing, Household equipment and routine maintenance 22.2% and health 20.9%.
The non-food group recorded a year-on-year rate of 19.4 % in September, compared to 21.6% recorded in September.
Greater Accra and the Ashanti Regions recorded inflation rate higher than the national average of 15.8%.
The Greater Accra Region recorded the highest year-on-year inflation rate of 18.7%, followed by the Ashanti Region with 16.3%.
The Central Region recorded the lowest inflation rate of 12.9%.
The Consumer Price Inflation measures the change over time in the general price levels of goods and services that households acquire for the purpose of consumption, with reference to the price level in 2012, the base year, which has an index of 100.
Source: Today
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Classical and unattractive economic dishonesty at display. Stop taking Ghanaians as ***barred word***, please!
What a load of data fmixed with faeces from the NDC government ; inflation was marked at 18.8% just about 4 moths ago and then suddenly there is this massive drop ; what economic indicators has changed in Ghana ; employment is still high ; we are still borrowing and paying huge interest on borrowed loans ; interest rates at the Bank is high ;the cedi after stability have vbecause of seasonality started to rise again ; imports are high and all the items listed have about 75% import content ; gas; food ; electrity are very high besides Christmas is comming and the demand for external goods are rising and prices will rise so how suddenly inflation have dropped ;A LOAD OF BULL >>>>>>>>>S why do not the government claim inflation to be 8% rather that !5% because nobody will notice anything and nobody will say anything and so why bother Mr Jon Mahama !!!!!!!; who are these uless NDC rag tags attenmpting to full so Ghanaians will go and vote for NDC again ; MASSA YOU LIE BAD !!!!!!!because people can see what is on the ground and can see it their pockets and know JON mAhama is a THIFF !!!!!!!!!and have messed up Ghana BIG TIME !!!!!!!!
They have started massaging figures again because of elections. You can say inflation is 1% but still CHANGE IS COMING.
Propaganda everywhere ... The numbers will go down ... down ... and down and I suspect to the 'magic single digit' by close of November, early enough for Dec. elections. But the reality on the ground, the same .... You cannot do propaganda with the economy, says the economic Prophet!!!
Good news but is that true as against actual picture on the grounds? I remember how npp did same antics in 2008 by reducing and keeping the figures strangled for stage show lyk 15.8% . I expected a lesser cooked inflation rate honestly. I pray they buy from the same market and see how the money is bolting.Insha Allahhh God help us