The year-on-year inflation rate at ex-factory prices for all goods and services was 16.5% in March 2024, the Ghana Statistical Services has disclosed.
This is compared with 12.5% in February 2024.
Meanwhile, the month-on-month producer inflation rate was 4.3%.
According to the GSS, the Construction sector registered the highest year-on-year inflation of 56.5%, followed by Electricity and Gas (27.0%) and Mining and Quarrying (26.7%).
Water Supply, Sewerage, Waste (7.4%); Manufacturing (7.1%), and Information and Communication (6.2%) registered the lowest year-on-year inflation.
Electricity and gas recorded a 27% inflation rate for March 2024, an increase of 7.5 percentage points over the February rate of (19.5%)
11 sub-groups within the Manufacturing sub-sector recorded inflation rates above the sub-sector average.
They included the Manufacture of Motor Vehicles and Trailers (65.2%); the Manufacture of Beverages (38.4%) and the Manufacture of Wearing Apparel (24.0%).
For the Services sector, Air Transport recorded the highest year-on-year inflation of 30.5%. It was followed by Postal and Courier Activities (25.0%) and Programming and Broadcasting Activities (19.3%).
Also, the Service producer price inflation in the Transport and Storage sub-sector increased by 0.9 percentage points over the February 2024 rate of 11.2% to 12.1% in March 2024.
The Accommodation and Food Services subsector rate increased by 5.5 percentage points to 20.9% in March 2024. The Information and Communication sub-sector recorded an inflation rate of 6.2 percent for March 2024.
Meanwhile, the producer price inflation in the industry sector excluding the construction sector increased to 20.7% in March 2024 from 11.8% in February 2024. The rate in the construction sector increased to 56.5% in March 2024.
Latest Stories
-
StarLife Assurance supports Global Evangelical Mission Hospital with medical supplies
30 mins -
Benjies outdoors catchy thematic narrative on debut EP ‘TRI’
45 mins -
Skin and body enhancement, the emerging cause of hypertension
1 hour -
Bawumia vows to prioritise Pwalugu Dam project and tackle energy challenges with solar power
2 hours -
Bleaching and body enhancement creams can cause hypertension – Dr Tanor
2 hours -
Bobby Banson urges separation of Attorney General and the Chief Justice offices
3 hours -
It’s possible for Cedi to hit GH¢20 against the dollar – Sammy Gyamfi teases Bawumia’s 2024 polls slogan
3 hours -
Tamale North MP accuses Akufo-Addo of scheming to oust Kissi Agyebeng from office
3 hours -
Akufo-Addo warns journalists of potential AI dangers in misinformation
3 hours -
Will you accept financial help from your wife’s male friend? Here’s Joy listeners’ verdict
3 hours -
Arteta’s Arsenal title dream ‘still alive’
3 hours -
AfDB warns about high level of debt facing African countries
3 hours -
Chief Justice asks Kissi Agyebeng to respond to impeachment allegations
4 hours -
Africa Nyornu targets 1,000 girls for menstrual hygiene training
4 hours -
Creating the OSP was an international obligation, not just a political promise – Bobby Banson
4 hours