September inflation declines to 12.2 Percent

GSE All Share Index +63.35% (all figures are year-to-date as of Oct. 31, in local currencies) The best-performing stock market in the world, this small, illiquid exchange dominated by mining, commodities, and banking companies is up nearly two-thirds (after gaining 32% last year). Hopes remain high for the Ghanaian economy, with International Monetary Fund estimates of 7.5% annual growth from 2009 to 2011, thanks to factors like rising cocoa and other commodity prices and the country's first significant oil production set for 2010.

The year on year inflation for the month of September has declined to 12.2 percent.

This represents a 0.1 percent reduction from the 12.3 percent recorded in August.

The year on year food and non food inflation for September was also 8.1 and 14.1 percent respectively.

Inflation rate for imported and locally produced items for the same period was also 13.5 and 11.6 percent respectively.

This was made known by a Deputy Government Statistician, Anthony Amuzu, who addressed the press Wednesday on the trends of the Consumer Price Index (CPI).


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