The monthly change rate for the period under review was 2.7 percent relative to the -0.1 percent recorded in the previous month.

inflation
inflation

Year-on-year food inflation rate for October 2015 was 7.8 percent, just as was recorded in September, according to the Government Statisticians Philomena Nyarko.

“Non-food inflation rate however reduced by 0.2 percentage points to 23.0 percent in the month under review, relative to the 23.2 percent for September,” the Government Statistician added.

While inflation rate for imported items went up to 18.6 percent in October 2015 relative to the 17.4 percent in September, that of locally produced items tumbled to 16.9 percent in October 2015, relative to 17.3 percent in September.

The main price drivers for food inflation rate in the month under review were Vegetables (3.6 percent); and the Mineral water, soft drinks, fruits, and vegetable juicies group (8.5 percent).

For the non-food group, price drivers in October were Recreation and Culture (29.9 perxent);Education (28.8 percent); Transport (25.7 percent); as well as Clothing and footwear (24.5 percent).

The other price drivers for the non-food group are Furnishings, household equipment; and routine maintenance (24.5 percent); as well as Housing,water, electricity,gas and other fuels (23.1percent).

“It is possible that the relative stability in the value of the Ghana Cedi (local currency) may have contributed to the stable inflation last month because we saw non-food inflation reduced by 0.2 percentage points,” Nyarko stated. Enditem

Source: Xinhua

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