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BusinessInflation Rate for January falls marginally to 7.8 percent

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Inflation Rate for January falls marginally to 7.8 percent

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The Year-on-Year Inflation rate for January fell slightly to 7.8 percent from 7.9 percent recorded in December 2019.

The month-on-month inflation between December 2019 and January 2020 was 1.4 per cent.

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Professor Samuel Kobina Annim, the Government Statistician, said the contribution of food to inflation had increased while that of housing fell during the period.

Alcoholic Beverages, Tobacco & Narcotics (11.1 per cent), Transport (10.5 per cent), and Housing (nine per cent) were the Divisions with the highest rates of inflation.

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The Food and Non-alcoholic beverages Division recorded a year-on-year inflation rate of 7.8 percent, a 0.5 percentage points higher than 7.3 percent in December 2019.

The non-food year-on-year inflation for January stood at 7.9 percent.

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Between December 2019 and January 2020, the price level of Food and Non-alcoholic beverages increased by 2.3 per cent, driven by an increase in price levels of Vegetables and Fish.

At the regional level, the year-on-year inflation ranged from 5.6 percent in the Ashanti Region to 10 percent in the Central Region.

Source: GNA

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