Inflation for October 2019 records marginal rise

Inflation for October 2019 records marginal rise

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• The inflation rate for October 2019 increased marginally by 0.1%%.
• This was announced by the government statistician, Professor Samuel Kobina Annim.
• Three regions recorded inflation rates above the national average of 7.7%%.

               
           
               
                   

The year-on-year inflation rate for October 2019, went up marginally to 7.7%.

               
           
               
                   

This is a 0.1% increase from the 7.6% recorded in September 2019.

               
           
               
                   

The government statistician, Professor Samuel Kobina Annim, announced the increase. He attributed the increase to prices in the transport sub-sector.

               
           
               
                   

He said the price level of food and non- alcoholic beverages reduced by -1.2%.

               
           
               
                   

Prof Annim explained that this decline was due to a fall in price levels of vegetables and fruits.

               
           
               
                   

He added that the food and non-alcoholic beverages recorded a year-on-year inflation rate of 7%. Meanwhile, the non-food group recorded a rate of 8.2%.

               
           
               
                   

He added that alcoholic beverages, tobacco, and narcotics recorded 13.2% and transport recorded 12.9%.

               
           
               
                   

The inflation of local goods was 5.9% on average while that of imported goods was 8.9%.

               
           
               
                   

Meanwhile, three regions recorded inflation rates above the national average of 7.7% and these were: Greater Accra, 11.8%, Central, 9.2%, and Volta, 8.9%.

               
           
               
                   

Upper East Region recorded the lowest year-on-year inflation rate of 3.6% in October 2019.

Source: Inflation for October 2019 records marginal rise

- gist culled from pulseng