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12.06.2009 Business & Finance

Inflation drops to 20.5% - first dip this year

By myjoyonline
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For the first time this year inflation, which is the general measure of price movements on the market has seen a drop, though marginal.

The month of May registered an inflation figure of 20.5 percent representing a 0.05 percentage point decrease over April's figure of 20.56 percent.

The figure by the way is for May and not for the month of June which saw the fuel price increase.

Prof. Nicholas Nsowah-Nuamah tells Joy Business even though food crop harvests are beginning to help dampen inflation, the recent fuel price increases could reverse the decline.

The marginal decrease has also been attributed to a slight decline in the rate at which the price of food and transport fares went up in May.

On the regional level, Greater Accra continues to exhibit a relatively high inflation figure of 26.4 percent compared to the Western region which recorded the lowest figure of 12.6 per cent.

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