Inflation for March drops to 12.8%

The year on year inflation rate as measured by the Consumer Price Index, CPI, stood at 12.8 percent in March 2017, which is 0.4 percentage points down from the 13.2 percent recorded for February.

This rate is due to the change in the CPI over the twelve month period, from March 2016 to March 2017.

On the Regional Differentials, the Greater Accra, Ashanti and Brong Ahafo Regions recorded rates higher than the overall national average.

The CPI measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption in the country.

The Annual food inflation rate for March 2017 was 7.3 percent compared with 7.1 percent recorded in February this year.

The year on year non-food inflation rate of 15.6 percent is two times the rate for food, which stood at 7.3 percent.

Also in March 2017, the year on year inflation rate for imported items stood at 15.5 percent, a 3.8 percentage points higher than that of locally produced items which recorded 11.7 percent.