Consumer inflation has fallen for a third consecutive month in October reaching 10.1 percent from 10.4 percent recording in September 2020, representing a decline of 0.3 percentage points, data from the Ghana Statistical Service (GSS) has shown.

At the release of the latest data, the Government Statistician, Professor Samuel Kobina Annim said, “National year-on-year inflation for October 2020 was 10.1 percent and month-on-month inflation 0.2 percent.

This means that year-on-year inflation is still above the pre-COVID levels, but that month-on-month inflation remains relatively low.”

The combined consumer price index (CPI) measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption.

Credit: Business 24

(by Joshua Amlanu)