fundamentals or to the population. It is also prudent that this economic growth is sustainable in the long term. 3.2 Macroeconomic Indicato Indicators The country enjoyed macro economic stability in 2011. Despite arguments that the achievement has come at great costs, the fact that the macroeconomic indicators remained relatively stable in spite of economic challenges both locally and abroad, was an impressive feat. 3.2.1 Inflation Inflation started with a year year-on-year year rate of 9.08 percent and ended at a rate of 8.58 percent. The average inflation for the year was, however, 8.75 percent. Monthly rate of inflation for the period was 0.65 percent showing a continuous decline since 2008. Figure 3:1 Inflation trend, 2008 - 2011 25 % 20 15 10 5 0 2008 2009 2010 2011 End Yr Inf 18.13 15.97 8.58 8.58 Annual Inf 16.46 19.29 10.79 8.75 Mth Ave 1.41 1.25 0.69 0.65 Source: Ghana Statistical Service Service, 2012 3.2.2 Gross Domestic Product (GDP) Sixth Annual APRM Progress Report: January – December 2011 45