philomina

Year-on-year inflation as measured by the Ghana Statistical Service?s Consumer Price Index (CPI) recorded 14.0 percent in February 2014, up from the 13.8 percent recorded in January 2014.

This was the percentage change in the CPI from February 2013 to February 2014.

Dr Philomena Nyarko, Government Statistician, who disclosed this yesterday at a press conference in Accra, said the monthly change rate for February 2014 was 1.1 percent as against 3.9 recorded in January 2014.

The food and non-alcoholic beverages group recorded an average year-on-year inflation rate of 7.5 percent, 0.4 percentage points higher than the 7.1 percent recorded in January 2014.

Four subgroups of the food and non-alcoholic beverages group recorded inflation rates above the group?s average of 7.5 percent.

The non-food group recorded an average year-on-year inflation rate of 19.0 percent in February 2014 compared to a rate of 18.9 percent recorded in January 2014.

Housing, water, electricity, gas and other fuel recorded the highest rate of 38.9 percent followed by transport which recorded 26.8 percent.

Inflation was lowest in the communications group at 5.0 percent.

At the regional level, the year-on-year inflation rate ranged from 9.5 percent in the Upper West region to 16.7 percent in the Ashanti Region.

Three regions ? Ashanti, Eastern and Greater Accra ? recorded inflation rates above the national average of 14.0 percent.

 By Samuel Boadi

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