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Inflation fell marginally 0.1% in September 2020 to record a rate of 10.4%.
According to figures from the Ghana Statistical Service, the slight drop was influenced by the reduction in some prices of food products.
However, the month-on-month inflation between August 2020 and September 2020 was -0.2%. Last month, month-on-month inflation was also negative (-0.4%).
On average, monthly inflation between April and July 2020 was 0.9% and in the six months prior to COVID19 the month-to-month inflation rate was 0.7%.
The GSS said that only two of the 13 divisions had higher than average inflation rates. They were Housing, Water, Electricity and Gas (20.3%) and Food and Non-Alcoholic Beverages (11.2%).
While the Food and Non-Alcoholic Beverages Division recorded a year-on-year inflation rate of 11.2%, that of Non-Foods stood at 9.8%
Within the Food Division, Vegetables (18.9%) was the Subclass with the highest inflation rates. This is lower than in previous months.
Health, Restaurants and Accommodation Services and Information and Communication, were three divisions that registered higher month-to-month inflation rates between August and September 2020 than on average during the months of April to July 2020 and before COVID-19.
Local and imported inflation
Inflation of imported goods was 5.1%, while inflation of local goods was 12.3% on average. However, month-on-month inflation for imported goods was 0.4%, while month-on-month inflation for local goods was -0.5%.
The main contributor to negative local inflation was inflation from locally produced food.
Regional inflation
For the regions, the Greater Accra region continued to record the highest inflation rate of 14.2%, while the Upper West recorded the lowest inflation rate of 1.3%.
The GSS said that most regions posted lower year-on-year inflation this month compared to previous months.
