Inflation rate rises slightly to 10.3 per cent in February

Inflation rate rises slightly to 10.3 per cent in February

The year-on-year inflation rate rises to 10.3 per cent in February 2021 compared to 9.9 per cent, the previous month, the Ghana Statistical Service said on Wednesday.

The rate is 0.4 percentage point higher than the rate for January.

The month-on-month inflation between January and February was 0.8 per cent.

Professor Samuel Annim, the Government Statistician, said the slight increase in the inflation rate was due to a rise in non-food inflation.

Non-food inflation rose to 8.8 per cent from the January rate of 7.7 per cent.

The Food and Non-Alcoholic Beverages inflation fell to 12.3 per cent from 12.8 per cent.

On a month-on-month basis, food inflation was zero per cent, Prof. Annim said.

“With this rate, Food contributed 52.6 per cent to overall inflation. This is the lowest since September 2020,” he said.

Within the Food Division, Vegetables with 17.4 per cent inflation remains the subclass with the highest rate of inflation but lower than the last month’s rate of 20.3 per cent.

The difference between locally produced items which recorded 11.7 per cent inflation and imported items with 6.7 per cent stood at five per cent. GNA

Source: ghanaiantimes

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