Ghana’s Inflation Rate for March 2018 dropped slightly to 10.4 percent, representing a 0.2 percent decrease from the 10.6 percent recorded in February 2018, a release issued by the Ghana Statistical Service said.
“This rate of inflation for March 2018 is the percentage change in the Consumer Price Index (CPI) over the twelve month period, from March 2017 to March 2018. The monthly change rate for March 2018 was 1.1% compared to the 0.9% recorded for February 2018,” it added.
The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.3%. This is 0.1% point higher than the rate recorded in February 2018.
Six subgroups of the food and nonalcoholic beverages group recorded inflation rates higher than the group’s average of 7.3%.
Acting Government Statistician, Baah Wadieh explained that the year-on-year food Inflation rate for March 2018 was 7.3% compared with the rate of 7.2% recorded in February 2018.
The year-on-year non-food inflation rate for March 2018 was 11.8%, compared with the rate of 12.2% recorded in February 2018.
In the same month of March 2018, the year-on-year non-food inflation rate of 11.8%, is more than one and half times that of the food Inflation rate of 7.3%.
Inflation for imported items under the same period was 11.8 percent, 2.0 points higher than that of locally produced Items which stood at 9. 8%, a drop of 0.2% from the previous month.