ACCRA, Sept 21 (Reuters) – Consumer prices in Ghana dropped by 0.4 percent in August from July and the year-on-year inflation rate dipped to 12.0 percent from 12.7 percent, data released by the government statistical service showed.
CONSUMER PRICES AUG JULY AUG 98
Change on month -0.4 +0.9 +0.2
Change on year +12.0 +12.7 +18.6 Index (base Sept 1997-100) 132.65 133.24 118.43
Note – The statistical service said the food and beverages component showed a fall of 1.5 percent on the month but the transport and communications component was up 1.8 percent.
The year-on-year inflation rate dipped to a 14-year low of 9.4 percent in May but was pushed up again from June after a 15 percent increase in the price of petroleum products.
The transport and communication index has risen by 12.6 percent in the three months to end-August.
The government’s objective is to hold inflation below 9.0 percent in 1999. The inflation rate in 1998 is now put by the statistical service at 15.7 percent.
