Ghana inflation rate for March 2016 is 19.2%

The year-on-year inflation rate as measured by the Consumer Price Index (CPI) stood at 19.2 per cent in March 2016, up by 0.7 percentage point from the 18.5 per cent recorded in February 2016.

The rate of inflation for March 2016 is the percentage change in the CPI over the 12-month period, from March 2015 to March 2016.

“The monthly change rate for March 2016 was 1.7 per cent, compared to the 0.8 per cent recorded in February 2016,” Dr Philomena Nyarko, Government Statistician, said on Wednesday at a press conference in Accra to present the March CPI.

She said the food and non-alcoholic beverages group recorded a year-on-year inflation rate of 8.3 per cent indicating seven sub-groups of food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 8.3 per cent

Dr Nyarko said the non-food group recorded a year-on-year inflation rate of 25.7 per cent in March 2016, compared to 24.5 per cent recorded for February, 2016.

She said four subgroups recorded year-on-year inflation rates higher than the group’s average of 25.7 per cent.

Transport recorded the highest inflation rate of 40.0 per cent, followed by housing, water, electricity, gas and other fuels with 39.6 per cent, Education with 27.7 per cent and recreation and culture with 26.7 per cent.

The Government Statistician said inflation was lowest in the communication subgroup with 13.6 per cent

At the regional level, Dr Nyarko said the year-on-year inflation rate ranged from 14.0 per cent in the Upper East Region to 22.9 per cent in the Greater Accra Region.

She said the two regions, Ashanti and Greater Accra recorded inflation rates above the national average of 19.2 per cent.

Source: GNA