Inflation is up marginally from 17.3 percent in August to 17.4 percent in September year-on-year.

According to latest figures from the Statistical Service the marginal increase of 0.1 percentage point was driven by education, recreation and culture at 29.6 and 27 percent respectively.

Clothing and footwear followed suit. Transport, utilities and fuels which previously were the main drivers of inflation stood around 23 percent.

Explaining the unusual twist, Dr. Philomena Nyarko, Government Statistician said, “The contributory factors could be increasing school fees, uniforms and textbooks. It’s not surprising especially as schools have re-opened.”

Dr. Nyarko also noted cost of operating hotels and restaurants had shot up hence the contribution of recreation and culture to the current rate.

Inflation rate in the coming months could further shoot up should plans to effect an increase in utility tariffs materializes.

Dr. Philomena Nyarko told JOY BUSINESS the increase will depend on the magnitude of tariff increase.

“For the utilities, all things being equal if nothing changes in the other factors, then inflation will go up. Let’s wait and measure what the impact would be”, she said.

Source: myjoyonline.com