Inflation rate closes flat at 7.8 per cent in February

The year-on-year inflation rate was unchanged at 7.8 per cent in February, the same rate as in January 2020, the Ghana Statistical Service said on Wednesday.

Mr David Kombat, a Deputy Government Statistician, said at a media briefing that the month-on-month inflation between January 2020 and February 2020 was 0.4 per cent.

The food and non-alcoholic beverages recorded a year-on-year inflation rate of 7.9 per cent while the non-food inflation rate was 7.7 per cent, lower than the 7.9 per cent recorded in January 2020.

Between January 2020 and February 2020 the price level of food and non-alcoholic beverages increased by 0.5 per cent, driven by an increase in price levels of vegetables, fruits and nuts, and cocoa drinks.

In the non-food, subclasses such as transport services, postal and courier services and narcotics recorded highest year-on-year inflation, ranging from 23.1 per cent to 34 per cent.

Inflation of imported goods was 5.9 per cent while the inflation of local goods was 8.6 per cent on average.

At the regional level, the year-on-year inflation ranged from 9.7 per cent in the Greater Accra Region to 5 per cent in Upper west Region.