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Inflation up

Inflation for April is 13.0%

BY ROSEMOND BOATENG ADDAI

Rosemond.adjetey@dailyheritage.com.gh

 

THE YEAR-ON-YEAR inflation rate as measured by the Consumer Price Index (CPI) for the month of April 2017 went up to 13.0%.

This indicates that inflation went up by 0.2 percentage point from the 12.8% recorded in March 2017.

The Acting Government Statistician, Mr Baah Wadieh, explained that the rate of inflation for April was the percentage change in the CPI over the 12-month period, from April 2016 to April 2017.

The Statistician, when briefing the press in Accra yesterday, said the food and non-alcoholic beverages group recorded a year-on-year inflation rate of 6.7 %.

This, he said, was a 0.6 percentage point higher than the rate recorded in March 2017.

Mr Wadieh said the main price drivers for food inflation rate were fish and sea food 13.6%, meat and meat products 10.9%, coffee, tea and cocoa 7.2%.

“Three sub-groups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 6.7,” he said.

He also explained that the non-food group recorded a year-on-year inflation of 16.3% in April 2017, compared to the 15.6% recorded for March 2017.

The Statistician said “five sub-groups recorded year-on-year inflation rates higher than the group’s average rate of 16.3%.”

The main price drivers for the non-food inflation rate were transport – 24.9%, recreation and culture – 22.3% furnishings, household equipment and routine maintenance – 21.9% miscellaneous goods and services-16.8%, clothing and footwear-16.7%.

Four regions, Greater Accra, Upper West, Brong Ahafo and Ashanti recorded inflation rates higher than the national average and Western Region recorded the same inflation rate as the national average of 13.7%.

March 2017 rate of 12.8% was lowest since December 2013, but the rate increased to 13.9% in April 2017.

 

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