Inflation rate hits 14.5 percent in March

The economy continues to record high inflation figures as the rate in March increased to 14.5 percent from 14.1 in February.  

This is highest since 2010 and represents a marginal increase of 0.4 percent from the previous months figure.

It means the rate of increase in March was higher compared to that of February. 

The non-food group inflation rate increased from 19 percent to 19.2 percent in March dominated mainly by Housing, water, electricity which recorded an inflation rate of 43.8 percent. Transport subgroup also recorded an inflation rate of 27.3 percent.

The food and non-alcholic beverages group recorded an increase in the year on year inflation rate from 7.5 percent to 8.2 percent. For instance, mineral water and soft drinks recorded a rate of 18 percent while coffee, tea and cocoa subgroup recorded a rate of 12.3 percent. 

 The Ashanti Region recorded the highest inflation rate of 17.1 while the Upper West recorded the lowest rate of 9.1 percent. The Greater Accra region recorded a rate of 14.8 percent.

Addressing newsmen on the figures, Government Statistician, Philomena Nyarko attributed the increase to hikes in transport fares and petroleum products.