Inflation Further Declines

Inflation rate fell to 15.97 per cent in December, a sixth consecutive decline and the lowest in 2009.

The rate dropped from 16.92 per cent in November, Dr. Grace Bediako, Government Statistician told journalists yesterday. The increasing inflation rate at the latter parts of 2008 continued in 2009, until it peaked in June 2009 (20.74 per cent) but thereafter declined till it recorded the lowest rate for the year in December.

"The non-food component of the Consumer Price Index (CPI) basket had greater influence on inflation than the food component throughout the year," Dr. Bediako said.

Food prices increased an annual 11.84 per cent in December compared to 12.4 per cent in November while non-food inflation further slowed to 18.82 per cent from 20 per cent, Dr. Bediako said.

Source: GNA