Ghana’s inflation rate increased to 15.7 per cent year-on-year in February 2022 from 13.9 per cent in January, according to the Government Statistician, Prof. Samuel Kobina Annim.
Prof. Annim told journalists on Wednesday in Accra that between the month of February 2021 and February 2022, the general price level of goods and services increased by 15.7%.
According to him, the inflation rate for the month of February was higher than with 13.9 per cent recorded in January 2022, representing a 1.8 percentage point between the two months.
He explained that the inflation rate for February was the second-highest recorded since the rebasing of the CPI and the inflation rate in August 2019.
The highest inflation rate, according to him, was recorded during the COVID-19 period between the months of March and April 2020 with variation of 2.8 percentage points.
Local media reports on Thursday quoted Government Statistician as saying that three divisions – Housing, Water, Electricity, Gas and Other fuels, Transport, and Food and Non-Alcoholic Beverages – recorded inflation rates above the national average of 15.7 per cent, while Housing, Water, Electricity, Gas and Other fuels recorded the largest price increase in February of 25.4 per cent, while Transport was up 18.3% and prices of Food and Non-Alcoholic Beverages rose by 17.4% after rising only 13.7% the previous month.
Prof Annim stressed the need to check rising inflation in the country from different perspectives because the drivers of inflation varied across the 16 regions of the country with food inflation driving five regions in the north, while it is being driven in the southern part by non-food and food prices.
GIK/APA