Inflation for March 2024 increased sharply to 25.8% from 23.2% recorded in February 2024.
This means that in March 2024, the general price level was 25.8% higher than in March 2023.
According to figures from the Ghana Statistical Service, the non-food inflation went up by 22.6%, while food inflation increased to 29.6%.
Locally produced items and imported items went up by 26.6% and 23.8% respectively.
Food and non-alcoholic beverages as well as transport were identified as the main drivers for the increase in the overall inflation for March 2024.
Also, six divisions recorded inflation rates higher than national average. They are Alcoholic Beverages, Tobacco and Narcotics (41.0%); Personal Care, Social Protection and Miscellaneous Goods and Services (33.5%); Restaurants and Accommodation Services (32.7%); Health (32%); Food and Non-Alcoholic Beverages (29.6%) and Recreation, Sports and Culture (29.4%).
For Food inflation, seven out of 15 Sub-Class registered inflation above the overall food inflation of 27.1%.
They included Tea and Related Products (75.4%); Cocoa Drinks (58.1); Vegetables, Tubers, Plantain, Cooking, Banana and Pulses (41.1%) and Fruits and Vegetables (31.9%).
For the regions, the Upper East region recorded the highest inflation of 42.9%. However, the Oti region registered the lowest inflation of 14.3%.
A Business Desk Report