Inflation – which is the general increases in the prices of goods and services – remained unchanged at 10.3% in March 2021.

In February 2021, the rate of inflation stood at 10.3%.

According to figures from the Ghana Statistical Service, the month-on-month inflation between February and March 2021 was however 0.9%, slightly higher than last month.

Housing, Water, Electricity and Gas recorded the highest inflation rate of 29% in March 2021. It actually went up from 23.4% recorded last month.

Whilst, Food and Non-Alcoholic Beverages inflation registered a rate of 10.8% in March 2021, the Non-Food inflation rate was 10.0%.

Within the Food Inflation Group, Tea (16.7%) recorded the highest rate of inflation. Vegetables and Fish and other Seafood recorded negative month-on-month inflation (-0.1% and -0.1 respectively).

Out of the 13 divisions within the Non-Food Group, Housing recorded a high rate of inflation (29%). This rate the GSS said can be attributed to an observed increase in rent prices.

Inflation of imported goods was however 6.8% (up from 6.7% last month), while the inflation for locally produced items was also 11.7% on the average.

Regional Inflation

The Greater Accra region recorded the highest inflation rate of 17%, whilst the Volta region recorded the least inflation rate of 5.3%.

In the Greater Accra region, food inflation was estimated at 11.5%, whilst non-food inflation was 21%.

The Ashanti region registered the second highest inflation rate of 9.3%., followed by the Eastern region with an inflation rate of 7.7%.