The rate of inflation recorded between February 2019 and February 2020 stays at 7.8 percent, the same figure recorded in January.
This according to the Ghana Statistical services is as a result of the continuous performance of food and non-alcoholic beverages group which has been the main driving factor for the inflation.
This means the prices of food as well as general goods and services between the periods recorded little or no price change.
The result indicates that the Greater Accra region continues to record the highest rate of inflation on a monthly basis as compared to the Upper West region with the least rate of inflation at 5 percent.
The Deputy Statistician, David Kombat announcing the rate to Journalists in Accra said, “Food and nonalcoholic beverages remains the main drivers of inflation. The contribution of Housing (including water, electricity, gas, etc.) went down from 10.2% to 8.5%.
“The Food Division is the largest contributor to month-on-month inflation, but less so than in January. Clothing and footwear is the second largest contributor this month.”
Monthly change in the rate of inflation between February 2020 and January 2020 was 0.4%, Food inflation was 7.7% and Non-food Inflation 7.9%.
The differential inflation rate between locally produced items (8.9%) and imported items (5.9%) was 2.9 percentage points. For the last 4 months inflation for locally produced goods has been growing faster than inflation for imported goods.
Latest Stories
-
Majority defends GRA-SML deal, insists no wrong was done
10 seconds -
Church Of Pentecost disburses educational sponsorships worth ¢14,281,540 million
48 seconds -
Money Summit: Fidelity Bank’s Atta Gyan calls for a rethink on investment strategies
16 mins -
WPL 2023/24: Battle for glory as Northern and Southern zone clubs chase playoff spots
24 mins -
Ghana’s Press Freedom Index improvement nothing to write home about – Sam George
31 mins -
Ghana Wellness and Healthcare Awards slated for June 14
34 mins -
OSP begins investigation into alleged bribery of EC staff by Kwadaso MP
40 mins -
Ghana FA laud Coach Zito with standing ovation after Dreams FC’s exploit in Africa
41 mins -
Asantehene worried over brain drain in African contemporary arts
45 mins -
Hearts of Oak legend berates current players for poor form
1 hour -
Unless EC has rules against officials receiving lunch money, nothing can be done in ‘envelope scandal’ – Prof Agyeman Duah
1 hour -
Singer Ayra Starr releases artwork, track list for ‘Sophomore Album’
1 hour -
Actress Sola Sobowale debunks drug trafficking and arrests in Saudi Arabia
1 hour -
Zebra on loose after escape in US mountain country
2 hours -
Apple iPhone sales fall in nearly all countries
2 hours