Ghana’s inflation rises to 10.6% in April 2013

Year-on-year inflation rate rose to 10.6 per cent in April, the highest since June 2010, compared with 10.4 per cent in March, Mr Baah Wadieh, Acting Deputy Government Statistician, said on Wednesday.

The monthly change rate for April was 1.8 per cent compared with 1.7 per cent in March 2013.

“This means the general price level went up by 1.8 per cent for the one-month period between March 2013 and April 2013,” Mr Wadieh said.

Mr Wadieh said the food inflation rate in April was 6.4 per cent compared with 5.5 per cent recorded in March while the non-food inflation rate fell slightly in April to 13 per cent from 13.2 per cent recorded in March.

The year-on-year food inflation rate of 6.4 per cent was about two times lower than the non-food inflation rate of 13.2 per cent.

The price drivers for the non-food inflation rate included: miscellaneous goods and services, 15.6 per cent; transport, 14.7 per cent; clothing and footwear, 14.1 per cent; and education, 14.1 per cent.

Major price drivers for food inflation were: Mineral water, soft drinks and juices 16.8 per cent; milk, cheese and eggs 15.4 per cent; sugar, jam, honey, syrups, chocolate, confectionary 11.4 per cent; and coffee, tea and cocoa at 11.3 per cent.

“Inflation rate for local food products, which stands at six per cent, was about one and half times lower than that of imported food products rate of nine per cent,” Mr Wadieh said.

Within the non-food group, six sub-groups recorded inflation rates higher than the group’s average rate of 13 per cent.

Greater Accra Region recorded the highest inflation rate of 12.6 per cent and Western Region, the lowest, of 8.5 per cent.