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

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.

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


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *