Ghana’s Inflation Rate Falls To Single Digit

Ghana’s rate of inflation has fallen to a single digit of 9.52 per cent in June, Dr. Grace Bediako, Government Statistician, has announced. Dr. Bediako, who was addressing a news conference in Accra, yesterday, said the rate of inflation has been falling for twelve consecutive months, the largest decline having been recorded in April 2010, followed by January and June at 1.66 percentage points, 1.19 percentage points and 1.16 percentage points respectively.

According to Dr. Bediako, the cummulative decline between January 2010 and June 2010 is 5.26 percentage points from 14.78 per cent to 9.52 per cent.

She noted that while the food and non-alcoholic beverages group has been recording a single-digit inflation rate since January 2010, the non-food inflation rate, on the other hand, though declining, has been recording a double-digit inflation rate.

The rate of inflation is the percentage change in the Consumer Price Index (CPI) and the Consumer Price Index is the average price level, measured relative to a reference period, usually called a base year.

The base year for Ghana’s CPI is 2002 which is equated to 100.

The June 2010 CPI was 5.31 points above that of may 2010.

Please Click here for more information

Source: ISD (G.D. Zaney)