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Inflation rate for March 2024 increases to 25.8%

Africa food market/inflation

The year-on-year inflation rate for March 2024 has increased to 25.8 % from 23.2 % in February this year, the Ghana Statistical Service (GSS) has announced.

This represents a 2.6 percentage point increase from February’s inflate rate.

This upward trend also affected food inflation, which climbed from 27.0% in February to 29.6% in March. Non-food inflation for March was reported at 22.6%.

Addressing the media in Accra on Wednesday ( 10 April), the Government Statistician Prof Samuel Kobina Annim said, “In the month of March 2024, rate of inflation stood at 25.8%, year-on-year inflation relative to 23.2 % recorded for the month of February 2024.”

“This indicates that we have a seen a surge in the rate of inflation by 2.6%, increasing from 23.2% to 25.8% for the month of March 2024.”

“Disaggregating this for the food and non-food perspective, the rate of inflation for food was 29.6% relative to non-food 22.6%. Both food and non-food inflation have seen a 2.6% increase in its rate of inflation between February and March 2024,” he said.

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