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Inflation hits 16.5% in September

Source: Citifmonline.com

Inflation for the month of September hit a record rate of 16.5%, the highest since December 2009.

The September inflation rate is up from the 15.9 percent recorded in August.

The monthly inflation rate was -0.2 percent.

Food inflation hit a rate of 5.8% up from 5.1% recorded in August and this was driven by mineral water and soft drinks which recorded a rate of 25.4%.

However the average prices of vegetables declined by about 6.6 compared to the same period last year.

Nonfood inflation recorded a rate of 24.1% increasing from 24% and this was driven by housing, water, electricity and gas which recorded a rate of 63.5%. Education however recorded the lowest inflation with a rate of 3.5.

The Central Region recorded the highest inflation rate of 18.5%, while Upper West recorded the lowest inflation rate of 10.9%.

The Greater Accra Region also recorded an inflation rate of 17.2%.

Of the September inflation of 16.5%, imported inflation was 23.4% while local inflation was 13.9%.

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