Inflation rate increased by 0.1 per cent in March - GSS

By Samira Larbie, GNA

Accra, April. 10, GNA – Mr David Yenukwa Kombat, the Acting Deputy Government Statistician, on Wednesday revealed that the year-on-year inflation rate for March 2019, increased by 0.1 per cent.

This, he said was measured by the Consumer Price Index (CPI) as 9.3 per cent in March 2019 as compared to 9.2 per cent in February 2019.

At a News briefing in Accra, Mr Kombat said the monthly change rate in March 2019 was 1.2 per cent, compared to the 1.0 per cent recorded for February 2019.

He said the year-on-year non-food inflation rate for March 2019 was 9.7 per cent same as the rate recorded for February 2019.

Mr Kombat said the year-on-year food inflation rate for March 2019 was 8.4 per cent compared to the 8.1 per cent recorded in February 2019.

“The year-on-year non-food inflation rate (9.7 per cent) is 1.3 percentage points higher than the food inflation rate (8.4 per cent),” he stated.

He added that in March 2019, the year-on-year inflation rate for imported items (11.1 per cent) was 2.6 percentage points higher than that of locally produced items (8.5 per cent).

Mr Deputy Statistician noted that the main “price drivers” for the non-food inflation rate were recreation and culture 14.1 per cent, Transport 13.7 per cent, clothing and footwear 13.3 per cent, and furnishing, household equipment and routine maintenance 12.2 per cent.

He said the “price drivers” for the food inflation rate were; coffee, tea and cocoa 13.0 per cent, mineral water, soft drinks, fruits and vegetables juices 11.1 per cent, fruits 10.2 per cent and meat as well as meat products 9.1 per cent.

Four regions including; Upper West, Brong Ahafo, Western and Ashanti recorded inflation rates above the national average and Volta region recorded the same inflation rate as the national average of 9.3 per cent, he stated.

The Upper West region he said, recorded the highest year-on-year inflation rate of 11.4 per cent, followed by Brong Ahafo 10.2 per cent, while the Upper East region recorded the lowest year-on-year inflation rate of 7.9 per cent in March 2019.

GNA

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