News

Inflation drops to 14.78%
Audrey Agyiri-Inkoom

The Inflation rate for the month of January 2010 has fallen to 14.78% from that of December 2009 which was 15.97%. This follows a downward trend which has been consistent for the past six months.

The year on year difference was 1.19 % with the monthly rate remaining unchanged. The January 2010 inflation rate is the lowest for the past twelve month.

The non-food sector continues to contribute significantly to the inflation rate with the recreation and culture sub-sector being the major influence. On the regional bases, the Northern region recorded single digit inflation of 9.87 % as compared to the Upper East and the Upper West regions which jointly recorded a higher inflation rate of 24.57 %.

Government Statistician Dr. Grace Bediako however agreed with some analysts that inflation could still drop further in the coming months.

“Some feel that we should have gone lower than we actually have observed so if I go by that then I think that we can still go further down along the months. There is a lot of focus that government has been giving to inflation.

"The Bank of Ghana pays a lot of attention to it; they have their own sub kind of data collection that they do just to know where inflation is at every point in time."

Ghanadot