Inflation drops to 10.4%

The Inflation rate for March 2018 is 10.4 per cent, a drop of 0.2 per cent from the 10.6 per cent recorded in February last year, Acting Government Statistician, Baah Wadieh, has announced.

At a press conference in Accra on Wednesday, 11 April, Mr Baah Wadieh said two main components; food inflation and non-food inflation, accounted for the drop in the rate.

He revealed that food inflation rate for March 2018 was 7.3% (compared with 7.2% recorded in February 2018) and the non-food inflation rate for March 2018 was 11.8% (compared with 12.2% recorded in February 2018).

“The inflation rate for imported items was 11.8% in March 2018 (compared with 12.1% recorded in February 2018).

“The inflation rate for locally produced items was 9.8% in March 2018 (compared with 10.0% recorded in February 2018),” he said.

“Five regions (Upper West, Brong Ahafo, Greater Accra Ashanti and Western) recorded inflation rates higher than the national average of 10.4% .

“Upper West region recorded the highest year-on-year inflation rate of 11.9%, followed by Brong Ahafo region (11.3%), while the Upper East region recorded the lowest year-on-year inflation (8.0%) in March 2018,” he added.

-Classfmonline

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ABOUT: Nana Kwesi Coomson

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An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.

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