March year-on-year Inflation rate jumps to 19.4%

• Posted on April 14, 2022April 14, 2022
• by Nana Kwesi Coomson
• Comment

The Year-on-year inflation rate for March 2022 rose to 19.4 per cent compared with 15.7 per cent in February on the back of transport, food and housing, the Ghana Statistical Services said on Wednesday.

This means that in the month of March 2022 the general price levels was 19.4 per cent higher than in March 2021.

The month-on-month inflation between February 2022 and March 2022 was 4.0 per cent.

At a press Briefing in Accra, Professor Kobina Annim, the Government Statistician, said food inflation had extended its dominance over non-food at 22.4 per cent and 17.0 per cent respectively.

“On a month-on-month basis food inflation exceeds non-food inflation by 0.8 percentage point, 4.5 per cent against 3.7 per cent,” he said.

Inflation for locally produced items stood at 20.0 per cent while Inflation for imported items was 17.3 per cent.

Prof Annim said that Transport, which included fuel, recorded the highest inflation of 27.6 per cent followed by Food and Housing with 22.4 per cent and 21.4 per cent, respectively.

The contribution of food and non-Alcoholic beverages to overall inflation increased by 2.0 percentage points from 49.4 per cent in February 2022 to 51.4 per cent in March 2022.

The Brong Ahafo Region recorded the highest inflation of 23.1 per cent while the Upper East Region registered the lowest rate of 12.5 per cent.