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Ghana's inflation rises to 17.2 pct in Sept.

Xinhua, October 13, 2016 Adjust font size:

The Ghana Statistical Service announced here on Wednesday that the country's year-on-year inflation rate for September rose to 17.2 percent, up from the 16.9 percent recorded the previous month.

Government Statistician Philomena Nyarko said that food inflation rate for the month inched up to 9.0 percent, compared with 8.5 percent recorded in August, attributing the rise to base drift effect and election pressures.

Nyarko listed the main price drivers for food inflation as mineral water, soft drinks, fruit and vegetable juices(16.2 percent), coffee, tea and cocoa(16.0 percent), and sugar, jam, honey, chocolate and confectionery (13.1 percent).

"The non-food inflation rate for September was 21.6 percent, compared with 21.5 percent recorded in August," she said.

"The main price drivers for the non-food inflation rate were education (32.5 percent), housing, water, electricity, gas and other fuels (28.0 percent), and recreation and culture (27.6 percent)," the statistician added.

The International Monetary Fund projected early this month that Ghana's inflation was expected to end the year on 13.5 percent.

While inflation rate for imported items inched up 1.4 percentage points to 18.7 percent in September, the rate for locally produced items slid slightly to 16.6 percent the month, compared with 16.7 percent recorded in August 2016. Endit