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April Inflation rate up by 2.0%

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The Inflation rate for April 2019, year-on year increased to 9.5%, compared with the 9.3% recorded in March for the same year.

The monthly change rate in April 2019 was 1.1% compared with the 1.2% recorded in March 2019, according to the Ghana Statistical Service

The year-on-year non-food inflation rate for April 2019 was 10.4% compared to 9.7% recorded for March 2019.

At the news conference, the acting Deputy Government Statistician of the Ghana Statistical Service, David Combat said, “the year-on-year food Inflation rate for April 2019 was 7.3%, compared with 8.4% recorded in March 2019.

The year-on-year non-food Inflation rate (10.4%) is 0.7 percentage points higher than the food inflation rate (9.7%)”.

In April 2019, the year-on-year inflation rate for imported items (11.0%) was 2.2 percentage points higher than that of locally produced items (8.8%), he noted.

The main “price drivers” for the non-food inflation rate were Clothing and footwear (14.3%), Recreation and Culture (14.1%), Transport (13.2%), Furnishing, Household Equipment and Routine Maintenance (12.8%) and Miscellaneous Goods and services (10.0%)

The “price drivers” for the food inflation rate were Coffee, tea and cocoa (13.7%), Mineral water, soft drinks, fruit and vegetable juices (9.5%), Fruits (10.4%), Meat and meat products (8.3%) and Vegetables (7.5%)

According to him, “four regions (Upper West, Brong Ahafo, Western and Ashanti) recorded inflation rates above the national average of 9.5 percent.

Upper West region recorded the highest year-on-year inflation rate of 11.5%, followed by Brong Ahafo region (10.7%), while the Upper East region recorded the lowest year-on-year inflation rate (8.0%) in April 2019”.

story by Edzorna Francis Mensah

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