Inflation for February Drops to 13.2%

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Inflation for the month of February dropped to 13.2 percent.

It represents a monthly change rate of 0.1 percent compared to the 13.3 percent recorded in January this year.

According to the Ghana Statistical Service, the food and non-alcoholic beverages recorded an inflation of 7.1 percent while the non food category recorded an inflation of 16.4 percent in February 2017.

The Acting Government Statistician, Baah Wadieh explained that the marginal decline in inflation was largely influenced by the drop in prices for some key components.

These included; petroleum products, transport, education and communication, resulted in the general drop in the national inflation.

“There is a fall in inflation for transport, education, communication and culture, plus a slight fall for the prices in petroleum products,” he stated.

The Acting Government Statistician added, “In February, the average price of petroleum products decreased to 4 cedis 13 pesewas from 4 cedis 20 pesewas in January and this reduction is the main driving factor for the reduction in inflation.”

Among the regions, the Greater Accra Region’s 14.1 percent was the highest above the national average.

Meanwhile the Volta region recorded the lowest inflation of 11.4 percent compared to the national average.

February’s inflation is the lowest since December 2013.

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

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