Inflation declines marginally in October
From: Ghana|Joy Business
November 14, 2012, 13:12 GMT
Dr. Philomena Nyarko
The rate of increase in general price levels slowed down marginally by 0.2 percentage points in October compared to September.
This comes after the rate of inflation fell from 9.4 percent in the month of September to 9.2 in October.
Government Statistician, Dr. Philomena Nyarko explained to JOY BUSINESS the decline could be attributed to the prevailing season of abundant food supply.
“The main drivers of the downward trend is the food items, we are seeing a reduction in the prices of food items because of the harvest season.
“And also, the cedi has remained stable, it has actually appreciated slightly against the major currencies and so that is why we are seeing this downward trend,” she stated.
At the Regional level, the inflation rate ranged from 6.6 percent in the Volta Region to 11.0 percent in the Central Region.
Apart from Central, Ashanti and Greater Accra, Northern region also recorded rates above the national average of 9.2 percent.
): Have Your Say >>
BoG increases policy rate to 16%, citing threats to growth and inflation
Tigo Cash to empower women in business
Ghana loses 140 million cedis to disasters annually
Ecobank report predicts challenging times for cedi in coming months
Voltic supports education NGO
Hope City now moved to Prampram
MTN expands Traders’ Forum to increase mobile technology use
Govt hints of major shakeup at CEPS, GRA to improve revenue generation
Minister charges EDAIF to decentralize and support SMEs
ACEP commends Ghana’s impressive performance on 2013 RGI
Tools & Features
Audio on Demand
Joyonline on Twitter
Joyonline on Facebook
Joyonline on Youtube
Advertise with Us
Ghana Money Blog
© Copyright 2012 Myjoyonline.com All Rights Reserved.