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14.05.2008 Business & Finance

Inflation rises to 15.29%

By Mashudu Ankiilu Kunateh - Ghanaian Chronicle

Year-on-year inflation measured by the Consumer Price Index (CPI) increased to 15.29% for a 12-month period ended April 2008 from 13.79% recorded in March, according to figures released by the Ghana Statistical Service (GSS) last Friday.

Instructively, in using the 1997 base year inflation for April chalked 15% from 13% recorded in March.

The CPI computed an overall 1.5% increase in weighted average prices around the country during April, this year.

The figures depict that the national index for food, which accounts for roughly half of the goods used to compute the CPI increased slightly to 13.15% in April from 12.95% down in March, this year, while the national index for non-food inflation increased to 17% in April from 14.4% recorded in March, 2008.

Government Statistician of the Ghana Statistical Service, Dr. Grace Bediako intimated that inflation rates recorded in the regions range from 11.35% for Greater Accra to 22.63% for Northern regions. In addition to Northern region, Eastern and Western regions had inflation rates above 20% whilst Ashanti and Brong-Ahafo regions recorded inflation rates below 15.29% (the national inflation rate) in addition to Greater Accra region. The rates of inflation increased in all regions except the Eastern region where the rate of inflation fell by 1.11 percentage points.

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