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March inflation surges to 25.8% from 23.2% recorded in February

March inflation surges to 25.8% from 23.2% recorded in February

By Racheal Asamoah

Inflation for the month of March 2024 increased to 25.8% from 23.2% recorded in February 2024, indicating a 2.6 percentage point surge.

According to figures from the Ghana Statistical Service, non-food inflation went up by 22.6 percent while food inflation increased from 27.0% to 29.6%
Locally produced items and imported items went up by 26.6% and 23.8% respectively.

Government Statistician Professor Samuel Kobina Annim disclosed this on Wednesday, April 10.

“In the month of March 2024, rate of inflation stood at 25.8%, year-on-year inflation relative to 23.2 % recorded for the month of February 2024. This indicates that we have a seen a surge in the rate of inflation by 2.6%, increasing from 23.2% to 25.8% for the month of March 2024,” he stated.

Professor Anim also mentioned that “Disaggregating this for the food and non-food perspective, the rate of inflation for food was 29.6% relative to non-food 22.6%. Both food and non-food inflation have seen a 2.6% increase in its rate of inflation between February and March 2024.”

Food and non-alcoholic beverages as well as transport were identified as the key factors for an increase in the overall inflation for March 2024.

On a regional basis, the Upper East region recorded the highest inflation rate of 42.9% while Oti region again recorded the lowest rate of inflation of 14.3%.

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