Dr. Kwabena Dufuor, Minister of Finance
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11th February, 2010
INFLATION DROPS FOR THE 7TH TIME
THE Country Inflation dropped from 18.04 per cent in October to 16.92 per cent in November, this year.
This represents a decrease of 1.45 percentage points from the Inflations rate for October, 2009.
Dr Grace Bediako, Government statistician at a press briefing yesterday on the consumer price Index for November 2009 attributed the decrease in inflation to the Government fiscal policies and the stability of the cedi.
She said that inflation for the last three months received rates below the year-to date average of 19.60 per cent.
“The highest rate of 20.74 per cent was recorded in June and the lowest in November.
According to Dr Bediako Inflation has been primarily driven by the non-food sub-Sector which constituted 55.09 per cent of the Consumer Price Index (C.P.I) basket.
She said the non-food sub-Sector experience the highest Inflation of 20.5 per cent in November, driven by recreation, culture, and health, as compared to the food sub-sector which recorded 12.38 per cent influence by fish.
On Regional Inflation, the Government Statiscian said Upper East and Upper West recorded the highest Inflation whilst Greater Accra and Eastern Region recorded the lowest.
The Upper East, and West regions recorded 29-43 per cent. The Central Region which placed second had 25.40 per cent, Volta Region 24.71 per cent, Western Region 17.59 per cent, Ashanti Region 17.22 per cent, Brong Ahafo Region 15.35 per cent, Northern Region 14.17 per cent and the Greater Accra region 12.43 per cent.
This represents a decrease of 1.45 percentage points from the Inflations rate for October, 2009.
Dr Grace Bediako, Government statistician at a press briefing yesterday on the consumer price Index for November 2009 attributed the decrease in inflation to the Government fiscal policies and the stability of the cedi.
She said that inflation for the last three months received rates below the year-to date average of 19.60 per cent.
“The highest rate of 20.74 per cent was recorded in June and the lowest in November.
According to Dr Bediako Inflation has been primarily driven by the non-food sub-Sector which constituted 55.09 per cent of the Consumer Price Index (C.P.I) basket.
She said the non-food sub-Sector experience the highest Inflation of 20.5 per cent in November, driven by recreation, culture, and health, as compared to the food sub-sector which recorded 12.38 per cent influence by fish.
On Regional Inflation, the Government Statiscian said Upper East and Upper West recorded the highest Inflation whilst Greater Accra and Eastern Region recorded the lowest.
The Upper East, and West regions recorded 29-43 per cent. The Central Region which placed second had 25.40 per cent, Volta Region 24.71 per cent, Western Region 17.59 per cent, Ashanti Region 17.22 per cent, Brong Ahafo Region 15.35 per cent, Northern Region 14.17 per cent and the Greater Accra region 12.43 per cent.
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