Skip to main content

October Inflation down to 9.2%


By Fred Sarpong

The October 2012 consumer price index shows that inflation is on a downward trend even during an election year.

The year-on-year inflation as recorded by Consumer Price Index (CPI) stood at 9.2% in October 2012, down from the 9,4% recorded in September, this year.

This rate of inflation for October 2012 is the percentage change in the CPI over the 13 month period from October 2011 to October 2012.

The October 2012 inflation rate of 9.2% marks 29 consecutive months of single digit inflation rate in the country.

The monthly change rate for October 2012 was negative 1.0%, that is the general price level declined by -1.0% between September and October compared to a decline of 1.5% between August and September 2012.

The drop in inflation for three months running was mainly on account of the decline in food inflation, which dropped from 5.5% in July down to 4.1% in October.

Eight sub-groups of the food and non-food alcoholic beverages group recorded inflation rates above the group’s average inflation rate of 4.1%.

Non-food inflation similarly dropped from 12.5% in August to 12.2% in October. Seven sub groups recorded year-on-year inflation rates above the group’s average rate of 12.2%. Transport recorded the highest rate of 20.6% followed by Alcoholic beverages, tobacco and narcotics with 16.1%. Inflation was lowest in the communications subgroup.

At the regional level, the year-on-year inflation rate ranged from 6.6% in the Volta region to 11.0% in the Central region. Four regions, namely Central 11.0%, Greater Accra 10.9%, Northern 9.7%, and Ashanti 9.6% recorded inflation rates above the national average of 9.2%.

Comments

Post a Comment

Popular posts from this blog

Vodafone sells 45% shares in Verizon for US$130 billion

Vodafone has sold its 45% stake in Verizon Wireless to US telecoms group Verizon Communications in one of the biggest deals in corporate history. The US$130 billion (£84bn) deal was announced by Vodafone after the close of trading on the London Stock Exchange. The company will return £54 billion to its shareholders, of which £22 billionn will go to shareholders in the UK. Vodafone will also invest money in its business, with funds earmarked for high speed mobile phone networks. It said that by 2017 its main five European markets would have almost complete 4G coverage. Possibly it would be wrong to carp and wring hands that Vodafone won't be paying a penny of tax to the British taxman” Vodafone group chairman Gerard Kleisterlee said: "The transaction will position Vodafone strongly to pursue our leadership strategy in mobile and unified communication services for consumers and enterprises, both in our developed markets and across our emerging markets businesses." The...
Post a Comment
Read more

Shortage of weighing cards hit major hospitals in Accra

By: Fred Yaw Sarpong- Daily Express There is scarcity of Child Health Records Book (weighing cards), in some major public hospitals in the capital, information reaching the Daily Express indicates. Checks by this paper revealed that while some of the hospitals have being encountering the shortage for about a year now, others started experiencing it six months ago. In place of the Child Health Record Book (weighing card), the nursing mothers are given a single card on which information of children are recorded on it. Those hospitals identified are the Korle Bu Teaching Hospital, Korle Bu Polyclinic, Kaneshie Polyclinic, Adabraka Polyclinic and the Ridge Hospital. At the Korle Bu Teaching Hospital, the nursing mothers are given yellow cards in place of the weighing cards. The Public Relations Secretariat at the Korle Bu Teaching Hospital said such information has not come to their notice and for that matter they cannot comment on it. “We do not have some ...
Post a Comment
Read more

ABL launches chibuku super in Bolgatanga

By: Fred Yaw Sarpong sarpong007@gmail.com Accra Brewery Limited (ABL) has officially launched the Chibuku Super drink at Bolgatanga in the Upper East region with the aim of reaching a lot of customers. Mr. Thomas Nii Ponku, Supervisor in charge of Chibuku Super at ABL told Daily Express that the management decided to launch the Chibuku Super drink in the Upper East region because they’ve realized it is similar to a traditional drink in the region. “Chibuku is like a well developed pito, a traditional drink made from fermented millet or sorghum in the Northern part of Ghana. So the idea is to provide them with similar drink,” he added. Mr. Nii Ponku disclosed this when members of the Institute of Finance and Economic Journalists (IFEJ) toured the facility of ABL to acquaint themselves with the expansion project at the factory. He mentioned that after a feasibility study, they realized there is a potential market for the product in the northern part of Ghana ...
Post a Comment
Read more