Ghana’s inflation drops 9.13% in March

Ghana’s inflation rate has dropped for the first time in three months to 9.13% in March 2011, the Government Statistician has announced to journalists in Accra today April 13, 2011.

Dr. Grace Bediako said transportation remains the major contributor to inflation.

The March inflation declined by 0.03% points lower than that of February 2011 which recorded 9.16%.

“Inflation has resumed its downward trend and hopefully it will maintain”, Dr Bediako told reporters.

This is the first time that inflation rate has decreased since the 9.1% inflation in January 2011when the National Petroleum Authority (NPA) announced a 30% increase in petroleum prices, followed by an 18% increase in transport fares which affected the transportation sector in the country.

The last downward trend was in December 2010 when the rate stood at 8.58%.

By Ekow Quandzie