Inflation falls to 11.6% in October

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Source: Reuters

Ghana’s annual consumer price inflation fell to 11.6percent in October from 12.2 percent the previous month on the back of lower transport and health costs, the statistics office said on Wednesday.

The major commodity exporter is following a $918 million credit programme with the International Monetary Fund that aims to restore fiscal balance and narrow inflation to 8 percent plus or minus 2 percentage points in 2018.

“There has been a general reduction of costs across the non-food subsector, but the key items affected most were the transport and health sectors,” acting government statistician Baah Wadieh told reporters in Accra.

Non-food inflation eased to 13.2 percent in October compared to 14.1 percent the month before while food inflation edged up to 8.2 percent from 8.1 percent in the previous month.

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