Ghana’s inflation rate rises to 10.4% in March 2013

The rate of inflation for March rose to 10.4 per cent compared with 10.0 percent recorded in February, the Ghana Statistical Service (GSS) announced on Wednesday.

The monthly change rate for March was 1.7 per cent as against 2.6 per cent recorded in February 2013.

Addressing a press conference, Dr Philomena Nyarko, Acting Government Statistician, said the year-on-year non-food inflation rate was 13.2 per cent, compared to 12.6 per cent the previous month.

She said that food and non-alcoholic beverages group recorded an average year-on-year inflation rate of 5.5 per cent, 0.2 percentage points higher than the 5.3 percent in February.

The price drivers for the food inflation were milk, cheese and eggs, Mineral water, soft drinks and juices all registering inflation rates between 10.4 and 15.2 percent.

On the other hand, Dr Nyarko said the non-food recorded an inflation rate of 13.2 per cent with transport, clothing and footwear and education and miscellaneous goods and services all rising above the group average.

“The year-on-year food inflation rate was about two and a half times lower than the non food inflation rate,” she said.

At the regional level, the year-on-year inflation rate ranged from 8.2 per cent in the Western Region to 12.2 per cent in the Greater Accra region.

Three regions, including Greater Accra, Ashanti and Northern recorded inflation rates above the national average of 10.4 per cent.

Source: GNA