The inflation rate for the month of October decreased to 15.8 percent from 17.2 percent recorded in September 2016. This is the lowest rate in 2016
The monthly change rate for October was 1.4 percent compared to 0.2 percent for the month of September
According to the Ghana Statistical Service, elements of the non-food group inflation namely; transport, housing, water, electricity, education and recreation among others accounted for the decrease.
The food and non-alcoholic beverages group recorded a year-on –year inflation of 8.7 percent. This represent a 0.3 percent point lower than the rate recorded in September 2016.
The non-food group on the other hand recorded a year-on-year inflation rate of 19.4 percent in October.
At the regional level, the year-on-year inflation rate ranged from 12.9 percent in the Central region to 15.8 percent in the Greater Accra
Two regions recorded inflation rates above the national average of 15.8 percent
The consumer price index measures the change over time in the general price levels of goods and services that households require for the purpose of consumption.