Ghana's inflation rate for September dropped to 9.4%, from 9.5% the previous month, the country's Statistical Service announced Wednesday.
Inflation, measured by the Consumer Price Index (CPI), has been rising marginally in recent months and the slight decline is welcome news for the country.
The rate of inflation is the percentage change in the Consumer Price Index (CPI) over the twelve-month period from September 2011 (368.2) to September 2012 (402.9).
The monthly change rate for September 2012 was -1.5%; that is, the general price level declined by 1.5% between August and September 2012 compared to a decline of 0.8% between July and August 2012.
Food and non-alcoholic beverages group recorded an average year-on-year inflation rate of 4.4%, the same as recorded in August 2012.
Eight sub-groups of the food and non-alcoholic beverages group recorded inflation rates above the group's average inflation rate of 4.4%.
The non-food group recorded a year-on-year inflation rate of 12.4%. Seven sub- groups recorded year on- year inflation rates above the group's average rate.
Transport recorded the highest rate of 20.6% followed by Alcoholic beverages, tobacco and narcotics with 16.7%. Inflation was lowest in the Communication group (below 1%).
The alcoholic beverages, tobacco and narcotics group recorded the highest month-on-month inflation rate of 0.2%.
Source: GBC
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