The annual inflation rate in Ghana increased to 7.7 percent in October 2019 from 7.6 percent in the previous month.
Prices advanced faster for non-food products, in particular transport and alcoholic beverages, tobacco & narcotics; while food cost slowed.
Year-on-year , prices advanced at a faster pace mainly for non-food products (8.2 percent vs 7.0 percent in September), namely transport (12.9 percent vs 8.7 percent), amid increased fares on bus transport, fuels;
and alcoholic beverages, tobacco & narcotics (13.2 percent vs 12.2 percent), of which alcoholic beverages (12.4 percent) and narcotics (33.8 percent).
Additional upward pressure came from clothing & footwear (7.4 percent vs 6.1 percent);
miscellaneous goods & services (8.2 percent vs 6.9 percent);
furnishings & household equipment (5.9 percent vs 5.6 percent);
education (3.3 percent vs 2.7 percent); recreation & culture (7.9 percent vs 7.5 percent);
communication (3 percent vs 2 percent) and health (8.5 percent vs 5.5 percent).
Meanwhile, cost slowed a bit for housing & utilities (9.9 percent vs 10 percent) and restaurants & hotels (4.1 percent vs 4.2 percent).
Meantime, inflation softened for food & non-alcoholic beverages (7 percent vs 8.5 percent).
On a monthly basis , consumer prices inched up 0.4 percent, after dropping 0.1 percent in the preceding month.
Source: Ghana Statistical service
(By Luisa Carvalho)