Inflation for the month of February has moved up to 9.2 per cent. The change reflects a 0.2 per cent increment from January's inflation rate of 9.0 per cent.
The year-on-year inflation rate as measured by the CPI was 9.2 per cent in February 2019, up by 0.2 percentage point from the 9.0 per cent recorded in January 2019.
This rate of inflation for February 2019 is the percentage change in the Consumer Price Index (CPI) over the twelvemonth period, from February 2018 to February 2019.
The monthly change rate for February 2019 was 1.0 per cent the same as the rate recorded for January 2019.
The Food and non-alcoholic beverages group recorded a year-on-year inflation rate of 8.1 per cent. This is 0.1 percentage point higher than the rate recorded in January 2019.
Four subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group's average rate of 8.1 per cent.
The main “price drivers" for the non-food inflation rate were Clothing and footwear (13.3%), Recreation and Culture(13.2%), Transport (12.8%), Furnishing, Household Equipment and Routine Maintenance (11.6%) and miscellaneous goods and services (10.0%)".Acting government statistician David Kombat explained.
Mr Kombat said, "The price drivers for the food inflation rate were Coffee, tea and cocoa (11.6%), Fruits (10.0%), Mineral water, soft drinks, fruit and vegetable juices (9.9%) and Meat and meat products (9.1%)".
On the regional level, four regions - Upper West, Brong Ahafo, Western and Ashanti recorded inflation rates above the national average and Volta region recorded the same inflation rate as the national average of 9.2 per cent.
Upper West region recorded the highest year-on-year inflation rate of 11.4%, followed by Brong Ahafo region (10.2%), while the Upper East region recorded the lowest year-on-year inflation rate (7.9%).
Have your say
More Business Headlines
- NCA to crackdown on counterfeit mobile devices
- Kwidex wins Betway Fintech Challenge
- Ecobank records sterling performance but defers dividends payment
- Karpowership wins Outstanding Independent Powerplant in West Africa award
- Ghana to recruit more banks to market its domestic bonds
- Fiscal laxity may compel Ghana to rely on IMF – EIU
- MTN Nigeria shares jump on second day of trading
- 2019 MTN Internet Festival launched
- Ghana’s economy to grow by 6.5% - not 7.6% - in 2019 – EIU
- EIU projects further widening of fiscal deficit to 4.6% of GDP this year
- SEC’s ‘high-return investments carry high risks’ argument rubbished
- Most Ghanaian businesses do not travel after life of owners – CEO Summit organizer worried
- Cussons Baby Ghana celebrates mothers in Ghana
- Digital agency banking to drive deposits for CalBank
- Smuggling of petroleum products reduces