February inflation rate drops by 2.1% points to 13.3%

The inflation rate for the month of January has dropped to 13.3 percent – the lowest in 3 years with the 2.1 percent reduction from the 15.4 percent recorded in December.

According to the Statistical Service, this is attributable to the drop in both food and non-food inflation like housing, fuel, among others.

Speaking with JOY BUSINESS after the release Wednesday, Acting Government Statistician Baah Wadie said the 11 percent hike in fuel prices last month was actually the key driver of the increased rate.

More soon…