Economy

Inflation hits 16.5 percent

Inflation for the month of September hit a record rate of 16.5percent.

This is the highest since December 2009.

The September inflation rate is up from the rate of 15.9 percent recorded in August.
The monthly inflation rate was -0.2 percent.
Food inflation hit a rate of 5.8% up from 5.1% recorded in August.

It was driven by mineral water and soft drinks which recorded a rate of 25.4%.

However the average price of vegetables declined by about 6.6 compared to last year.
Nonfood inflation recorded a rate of 24.1% increasing from 24%.

This was driven by housing, water, electricity and gas which recorded a rate of 63.5%.

Education however recorded the lowest inflation with a rate of 3.5.
The central region recorded the highest inflation rate of 18.5%, while upper west recorded the lowest rate of 10.9%.

The Greater Accra region recorded an inflation rate of 17.2%.

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Henry Cobblah

Henry Cobblah is a Tech Developer, Entrepreneur, and a Journalist. With over 15 Years of experience in the digital media industry, he writes for over 7 media agencies and shows up for TV and Radio discussions on Technology, Sports and Startup Discussions.

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