Inflation rate closes flat at 7.8 percent in February

Accra, March 11, GNA – The year-on-year inflation rate was unchanged at 7.8 percent in February, the same rate as in January, 2020, the Ghana Statistical Service said on Wednesday.

Mr David Kombat, a Deputy Government Statistician, said at a media briefing that the month-on-month inflation between January 2020 and February 2020 was 0.4 percent.

The food and non-alcoholic beverages recorded a year-on-year inflation rate of 7.9 percent while the non-food inflation rate was 7.7 percent, lower than the 7.9 percent recorded in January 2020.

Between January 2020 and February 2020 the price level of food and non-alcoholic beverages increased by 0.5 percent, driven by increase in price levels of vegetables, fruits and nuts, and cocoa drinks.

In the non-food, subclasses such as transport services, postal and courier services and narcotics recorded highest year-on-year inflation, ranging from 23.1 percent to 34 percent.

Inflation of imported goods was 5.9 percent while the inflation of local goods was 8.6 percent on average.

At the regional level, the year-on-year inflation ranged from 9.7 percent in Greater Accra Region to 5 percent in Upper west Region.

GNA

CA/AD

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