The Consumer Price Index (CPI) inflation in October 2012 has fallen to 9.2 per cent from 9.4 per cent in September, Dr Philomena Nyarko, Government Statistician, has announced.
Addressing a news conference in Accra, yesterday, Dr Nyarko said the monthly change rate for October 2012 was �1.0 per cent, meaning that the general price level declined by 1.0 per cent between September and October, compared to a decline of 1.5 per cent between August and September 2012.
According to the Government Statistician, the food and non-alcoholic beverages group recorded an average year-on-year inflation rate of 4.1 per cent, down from the 4.4 per cent recorded in September 2012 while eight sub-groups of the food and non-alcoholic beverages group recorded inflation rates above the group�s average inflation rate of 4.1 per cent.
She said the non-food group recorded a year-on-year inflation rate of 12.2 per cent, with seven food groups recording year-on-year inflation rates above the group�s average.
Dr Nyarko said transport recorded the highest rate of 20.6 per cent followed by alcoholic beverages, tobacco and narcotics with 16.1 per cent while the communications sub-group recorded the lowest inflation rate of 0.2 per cent.
At the regional level, she said the year-on-year inflation rate ranged from 6.6 per cent in the Volta region to 11.0 per cent in the Central region while four regions�Central, Greater Accra, Northern and Ashanti� recorded inflation rates above the national average of 9.2 per cent.
The CPI measures changes over time in the general price level of goods and services that households acquire for the purpose of consumption, with reference to the price level in 2002, the base year, which has an index of 100.
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