Wires

UPDATE 1-Ghana inflation dips to 9.4 pct in Sept -stats office

(Adds details, analyst quote)

ACCRA, Oct 10 (Reuters) - Ghana's annual inflation fell to9.4 percent in September from 9.5 percent the month before, thecountry's statistical office said on Wednesday.

The dip in inflation comes after successive increases overmuch of the year before it held steady in August as the localcedi currency started regaining ground lost against the dollarin the first half 2012.

"This first softening of inflation since February likelyreflects the almost two percent appreciation of the cedi againstthe dollar in September," said Yvonne Mhango at RenaissanceCapital.

"We think this implies that the policy rate is likely toremain flat at 15 percent until year-end 2012," she added.

Ghana's rate-setting committee kept its prime rate unchangedat 15 percent at its last meeting in September, citing abalanced inflation and growth outlook in the West African cocoaand gold producer.

(Reporting by Kwasi Kpodo; Writing by David Lewis)

((david.lewis2@thomsonreuters.com)(Dakar Newsroom +221338645076)(Reuters Messaging:david.lewis2.thomsonreuters.com@reuters.com))

Keywords: GHANA CPI/

Related Tags