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March 14, 2018 | Business Business & Finance

Inflation Up To 10.6% in February

Ebenezer Sabutey | JoyBusiness
Inflation Up To 10.6% in February

Consumer Price inflation increased to 10.6 percent in February from 10.3 percent recorded in January.

The marginal increase is being attributed mainly to an increase in fuel prices. Food inflation for February also rose to 7.2 percent from 6.8 percent the month before while non-food moved up to 12.2 percent.

According to the Ghana Statistical Service, this is a measurement of the change over time in the general price level of goods and services that households acquire for the purpose of consumption.

Acting Government Statistician, Baah Wadieh said “This should mean that the rate of increase in general price levels of goods and services went up marginally compared to that of January this year”

On the regional level, he stated: “Upper West, Brong Ahafo, Greater Accra and Ashanti Region recorded rates higher than the national average”.

Upper West recorded the highest rate of 11.7 percent followed by Brong Ahafo with 11.4. Upper East region recorded the lowest rate of 8.1 percent.

The non-food group recorded a year on year inflation of 12.2 percent, compared to the 12 percent recorded in January, whilst the food and non-alcoholic beverages group went up by 0.4 to record 7.2 percent.

This is a confirmation of an earlier report by JoyBusiness that prices of food in the country experienced an increase in the market in the first quarter of the year 2018.

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