Ghana’s inflation rate for the month of March 2022 peaked at 19.4 percent, the highest in 13 years, the country’s Statistical Services has said.
The Ghanaian Government Statistician, Prof. Kobina Annim told a news conference on Wednesday in Accra that the Year-in-Year inflation in March was higher than the inflation rate of 15.7 percent recorded in February 2022.
He explained that the jump in inflation rate was due to increases recorded in food prices, transportation and housing in the country.
Local media reports on Thursday quoted Prof. Annim as saying that transport recorded the highest rate of inflation of 27.6 percent in March, with the year-on-year average from April 2021 to March 2022 at 15.4 percent.
According to him, non-food inflation for March stood at 17.0 percent, which was higher than the rate recorded in February by 3.7 per cent.
He explained that the average non-food inflation for the past 12 months stood at 11.3 percent and that food inflation year-on-year had extended its dominance over non-food inflation since February.
Prof Annim also announced that inflation for locally produced items stood at 20 percent, while inflation for imported items was 17.3 percent.
GIK/APA