inflation
inflation

Ghana’s consumer inflation rate increased by 0.2 percentage points to 9.2 percent year-on-year in February, compared with the 9.0 percent year-on-year recorded a month earlier, Ghana Statistical Service (GSS) said.

The monthly change rate for the period between January and February was 1.0 percent just as the reading for the period between December and January.

While Food inflation inched up by one percentage point to 8.1 percent, non-food inflation inched up two percentage points to 9.7 percent over the period, according to the document issued by GSS on Wednesday.

Although the Ghanaian local cedi currency continued to lose ground against major international trading currencies, the inflation rate for imported food fell by two percentage points to 10.6 percent.

For locally manufactured items, the inflation rate jumped up by three percentage points to 8.6 percent.

The period starting from March to July which is the lean season is characterized by high food inflation as food prices tend to go up around this time due to food shortage. Enditem

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