Inflation rate for the month of March this year has increased to 19.4%.
This is 3.7 percentage points higher than the 15.7% recorded in February 2022. This is the highest since August 2009 after the economy was rebased.
The month-on-month inflation between February 2022 and March 2022 was 4.0%. However, on a month-on-month basis, food inflation exceeded non-food inflation by 0.8 percentage points.
According to the Ghana Statistical Service (GSS), Food, Transport and Housing were the main price drivers for the increase.
Foodstuffs such as Oil and Fats (28.2%), Water (27.1%), Cereal Products (25.0%), Vegetables (23.8%), Fish and Other Seafood (23.7%), Fruits and Nuts (22.1%), Soft Drinks (20.5%) and Live Animals and Meat (20.2%) recorded inflation rate, higher than the national average.
According to the figures, food inflation recorded a rate of 22.4% in March 2022, compared to 17.4% in February 2022.
Also, local inflation shot up to 20% in March 2022, as against 17.3% of imported goods or inflation.
Bono Ahafo region records highest regional inflation of 23.3%
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