The Ghana Statistical Service on Wednesday reported that the country’s annual consumer inflation rate rose to 5.2 percent in September from 5 percent the previous month, marking the fifth uptick in inflation over the past 20 months.
Government Statistician Alhassan Iddrisu said during the monthly data release that higher food prices during the month under review mainly drove the rise in headline inflation.
“Food inflation increased by 1 percentage point to 4 percent in September, while non-food inflation declined by 0.6 percentage points to 6.2 percent in September, from 6.8 percent in August,” Iddrisu said.
In September, goods inflation increased to 4.2 percent from the previous 3.8 percent, while services inflation declined to 8.3 percent from 8.6 percent.
Inflation for locally produced items and imported items also stood at 6.4 percent and 2.4 percent, respectively, up from 6.1 percent and 2.2 percent.
During its sitting in September, the Bank of Ghana kept its benchmark policy rate at 14 percent due to the continued moderation of underlying inflation pressures despite upside risks to the disinflation process. Enditem
