By Edzorna Francis Mensah
The Ghana’s Consumer Price Index and Inflation has hit the highest level ever since 2009 recording 19.4% for March 2022 year-on-year.
The last time, Ghana’s inflation got to this level was August 2009 with 19.65% according to Ghana Statistical Service data.
The current higher rate was neccesited by transportation (which includes fuel) but recorded the highest inflation of 27.6%, followed by Food and Housing with 22.4% and 21.4% respectively.
At the news conference in Accra on Wednesday, April 13, 2022, the Government Statistician, Professor Samuel Kobina Annin, said, the food inflation has extended its dominance over non-food with 22.4% versus 17.0% respectively as “month-on-month (February 2022 – March 2022) inflation was 4.0%”.
According to him, month-on-month basis for food inflation exceeds non-food inflation by 0.8% point (4.5% vs. 3.7%).
He noted that the contribution of food and non-Alcoholic beverages to overall inflation increased by 2.0 % points this month from 49.4% in February 2022 to 51.4% in March 2022.
“The gap between the inflation for locally produced items and imported items is retained whereas “Brong Ahafo Region with 23.1% recorded the highest inflation and Upper East Region the lowest with 125%.
On the disaggregation of March 2022 rate of inflation, Food inflation was 22.4% last month was 17.4%, average over last 12 month was 11.8% and month-on-month for food inflation was 4.5%.
Non-food Inflation was 17.0% with its last month stood at 14.5 °%, the average over last 12 month was 11.3% and month-on-month for Non-Food inflation was 3.7%.
Inflation for locally produced items was 20.0% and the imported items it was 17.3%.