March inflation rate increases marginally

Ghana’s Consumer Price Index (CPI) for March slightly increased to 9.3 per cent from 9.2 per cent recorded in February, the Ghana Statistical Service (GSS) has said.

The monthly change rate for March was 1.2 per cent as compared to 1.0 per cent recorded in February.

Speaking at a press briefing in Accra on Wednesday, the Acting Deputy Government Statistician David Kombat attributed the increase to price increases in coffee, tea, mineral water and fruits.

He said food inflation was 8.4 per cent, 0.3 percentage points higher than 8.1 recorded in February.

He indicated that four food subgroups such as coffee, fruits, mineral water and meat recorded inflation rates higher than average rates of 8.4 per cent.

Mr Kombat said the non-food group recorded an inflation rate of 9.7 the same rate recorded in February.

He noted that four subgroups recorded inflation rates higher than the group’s average rates of 9.7 per cent.

The subgroups were recreation and culture (14. 1 per cent), transport (13.7 per cent), clothing and footwear (13.3 per cent) and furnishing, household equipment and routine maintenance (12.2 per cent).

For imported items, Mr Kombat said, the inflation rate was 11.1 per cent which was 2.6 per cent higher than that of locally produced items of 8.5 per cent.

At the regional level, he noted that four regions namely, Upper West Brong-Ahafo, Western and Ashanti recorded inflation rates above the national average while Volta Region recorded the same inflation rate as the national average of 9.3 per cent.

Mr Kombat said the Upper West Region recorded the highest inflation of 11.4 per cent, followed by Brong-Ahafo Region with 10.4 per cent, Western Region 10.0 per cent and Ashanti Region had 9.4 per cent.

He said the Upper East Region recorded the lowest regional inflation rate of 7.9 per cent.

The Consumer Price Index (CPI) measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption with reference to price level in 2012, the base year which has an index of 100.