Consumer inflation in Ghana stood at 12.8 percent year-on-year in March, down from 13.2 percent in February, the Ghana Statistical Service said Wednesday.

The monthly change rate for the month under review however increased by 0.7 percentage points to record a 1.3 percent inflation for March, compared with 0.6 percent in February.

Acting Government Statistician Baah Wadieh said year-on-year non-food inflation rate for March recorded a 0.8-percentage point fall to 15.6 percent, compared with the 16.4 percent in February.

The year-on-year food inflation rate for March rose by 0.2 percentage points to 7.3 percent during the month under review, compared with 7.1 percent in February.

“Easing in the year-on-year inflation rate for the month of March 2017 was due mainly to the easing of inflation in the non-food sector,” Wadieh said.

“The rate for the transport sub-group fell to 15.3 percent in March from 23.3 percent in February, while that of education slowed to 17.3 percent in March from 19.6 percent in February and inflation rate for the health sub-group also fell to 15.8 percent in March from 17.1 percent in February,” Wadieh added.

The main price drivers for the non-food inflation rate were recreation and culture (23.7 percent); furnishings, household equipment and routine maintenance (23.5 percent); clothing and footwear (18.2 percent); education (17.3 percent); miscellaneous goods and services (16.7 percent); and health (15.8 percent).

The price drivers for the food inflation rate were fish and sea food (14.7 percent) and meat and meat products (10.9 percent). Enditem

Source: Xinhua/