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The annual inflation rate for September 2020 registered a marginal drop of 10.4% compared to 10.5% in the previous month, driven by negative monthly food inflation.
Monthly inflation between August 2020 and September 2020 was -0.2%, mainly driven by negative monthly food inflation of -0.5%.
“The negative monthly inflation rate of -0.2 percent indicates that, on average, prices decreased slightly in the second consecutive month. This trend is visible in different regions and is driven by negative food inflation, ”said Professor Samuel Annim, a government statistician, during a virtual press conference.
He said food contributed 47.6 percent to year-on-year inflation in September 2020, just slightly higher than in the months before COVID-19.
Inflation for food was 11.2% compared to 11.4% in August, while inflation for non-food products was 9.8% slightly higher than 9.9% in August.
Inflation for locally produced items was 12.3 percent compared to 5.1 percent for imported items.
Regionally, headline annual inflation ranged from 1.3% in the Upper West region to 14.2% in the Greater Accra region.
Professor Annim said that, nationally, most regions posted lower year-on-year inflation this month compared to previous months and a low or negative monthly inflation rate.
“Where the Upper West region posted the highest monthly inflation of 3.4 percent last month, this month it posted the lowest monthly inflation of -6.9 percent of all regions. This month, the Volta region recorded the highest monthly inflation of 0.1 percent, ”said Professor Annim.
Source: GNA
