Inflation rate drops to 12.8%; lowest in 4yrs

Inflation rate for March has declined to 12.8 percent from the 13.2 percent in February.

This rate is the lowest since December 2013.

This means prices of goods and services were fairly stable during the review period.

The year-on-year non-food inflation rate for March 2017 was 15.6% compared with the16.4% recorded in February 2017.

The year-on-year food inflation rate for March 2017 was 7.3%, compared with 7.1%recorded in February 2017.

The year-on-year non-food inflation rate (15.6%) is more than two times that of the food inflation rate (7.3%).

In March 2017, the year-on-year inflation rate for imported items (15.5%) was 3.8 percentage points higher than that of locally produced items (11.7%).

The year-on-year food inflation rate for March 2017 was 7.3%, compared with 7.1%recorded in February 2017.

The year-on-year non-food inflation rate (15.6%) is more than two times that of the food inflation rate (7.3%).

Four regions (Greater Accra, Upper West, Brong Ahafo and Ashanti) recorded inflation rates higher than the national average and Northern region recorded the same inflation rate as the national average of 12.8%.

The Greater Accra and Upper West regions recorded the highest year-on-year inflation rate of 13.7%, followed by the Brong Ahafo region with 13.4% while the Volta region recorded the lowest (10.7%).