Inflation Inches Up To 16.8%

Dr. Philomena Nyarko
Year-on-year inflation as measured by the Consumer Price Index (CPI) recorded 16.8 percent in April 2015 as against 16.6 percent in March 2015, representing a 0.2 percentage points increase, the Ghana Statistical Service (GSS) has stated.

Government Statistician, Dr. Philomena Nyarko made this known in an interaction with the media yesterday in Accra.

According to her, the monthly change rate for April 2015 was 1.8 percent compared to 1.0 percent recorded in March 2015.

Food, Non-food Inflation
She indicated that the food and non-alcoholic beverages group recorded year-on-year inflation rate of 7.2 percent during the period under review.

‘This is the same as the rate recorded in March 2015,’ Dr. Nyarko added.

She noted that the non-food group recorded year-on-year inflation rate of 23.2 percent in April 2015 compared to the 23.1 percent recorded in March 2015.

According to her, ‘Housing, water, electricity, gas and other fuels recorded the highest rate of 25.0 percent followed by transport and clothing and footwear with 24.5 percent and 23.7 percent respectively.

Inflation, she said, was lowest in the communication subgroup which recorded 13.0 percent.

Dr. Nyarko indicated that the ‘price drivers’ for the food inflation rate were ‘food products (17.0 percent); coffee, tea and cocoa (16.7 percent), sugar, jam, honey, chocolate and confectionery (15.4 percent), mineral water, soft drinks, fruits and vegetable juices (15.2 percent), milk, cheese and eggs (13.5percent), meats and meat products (13.2 percent) and cereals and cereal products (8.0 percent).

Regional Differentials
At the regional level, the year-on-year inflation, according to Dr. Nyarko, ranged from 14.1 percent in the Eastern Region to 18.9 percent in the Central Region.

The government statistician stated that three regions namely Central, Greater Accra and Ashanti, recorded inflation rates above the national average of 16.8 percent.

BY Melvin Tarlue
[email protected]

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