Inflation Rate eases to 18.04 percent in October

Accra, Nov. 13, GNA - Inflation eased to 18.04 percent in October, the fourth consecutive decline, the Ghana Statistical Service said on Friday. The rate represents a decline of 0.33 percentage points from September figure of 18.37 percent.

Inflation has been relatively high in 2009, averaging 19.86 percent compared to 16.52 percent in 2008.

Sylvester Gyamfi, Assistant Chief Statistician, said the inflation had been primarily driven by the non-food sub-sector, which constitutes 55.09 percent of the CPI basket.

In October 2009, food price went up slightly to an annual 13.53 percent=

while non-food costs declined marginally to 21.15 percent. The corresponding figures for September 2009 were 22.38 percent and 12= ..78 percent for non-food and food respectively. 13 Nov 09