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Ghana inflation slides for first time in 2009

The annual inflation of the West African state of Ghana dr opped for the first time in 2009, sliding 0.5 per cent to 20.06 per cent in May.

The Ghana Statistical Service (GSS) said on Friday the drop compared with 20.56 per cent for April, adding that this was as a result of a fall in the food compo n ent of the consumer price index which stood at 17.17 per cent in May as against 2 1.46 per cent for the previous month.

Professor Nicholas Nsowah-Nuamah, Deputy Government Statistician, who announced the figures in Accra, said the rising oil prices were responsible for the high l e vels of the inflation figures.

He was, however, optimistic that the downward trend would continue since the cou ntry was entering the harvest season.

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