February Inflation Hits 14%

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Inflation for the month of February hit a record 14 percent. This has been the highest in the past four years.
February inflation recorded a 0.2 percentage points increase from last month where 13.8 percent was reported.

The Monthly inflation was at 1.1 percent from 3.9 percent recorded in January.

The Food and non alcoholic beverages group recorded an increased rate of 7.5 percent from 7.1 percent recorded in January.
The group was dominated by Mineral water and soft drinks which recorded inflation rate of 17 percent.

The non-food group recorded a year-on-year inflation of 19 percent.
The group was dominated by Housing, water, electricity subgroup which recorded a staggering 38.9 percent and the Transportation which recorded inflation rate of 26.8percent. Communications remained the lowest at 5 percent.

On the regional level, Ashanti Region recorded the highest inflation rate of 16.7percent. Greater Accra recorded 14.4percent inflation and Upper West with the lowest rate of 9.5percent.

Deputy Government Statistician at the Ghana Statistical Service (GSS), Edward Afram Asuo speaking to Citi Business News recommended government works on keeping low fuel prices, a key component of inflation.

“If we are able to do something about the fuel prices and utility prices, I think we will have a low inflation rate,” he said.

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