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Inflation rises to 7.7% in October from a historic low

Ghana’s inflation rate rose in October but is within the central bank’s medium term target of 8±2.

The consumer price inched up to 7.7% in October from 7.6% in September. The 7.6 inflation recorded in September was the lowest since September 2013.

The Government Statistician, attributed the food and non-alcoholic beverages and non-food inflations as the drives for October inflation.

“Food and non-alcoholic beverages remains the driver of inflation, but less than earlier months”, Professor Samuel Kobina Anim noted, adding, “transport contributed the highest increase towards inflation”.

KEY POINTS:

  • Food inflation was 7.0%.
  • Non-food inflation was 8.2%.
  • Inflation for locally produced items was 6.5%.
  • Inflation for imported items was 8.9%.
  • 3 regions, Greater Accra (11.8%), Central (9.2%) and Volta (8.9%), recorded inflation rates above the national average of 7.7%.
  • Upper East region had the lowest year-on-year inflation rate of 3.6%.

By Eben Agyekum-Boateng | 3news.com

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