13 March 2014

Ghana Inflation Slightly Up

Accra — INFLATION for the month of January has increased marginal to 14 percent, statistics from the Ghana Statistical Service (GSS) indicated.

Up from the previous month's 13, 8 percent, it is so far the highest since March 2010, according to senior officials of the service.

The food and non-alcoholic beverages group recorded an increased rate of 7,5 percent from 7,1 percent recorded in January.

Mineral water and soft drinks, which recorded inflation rate of 17 percent, dominated the group.

The non-food group recorded a year-on-year inflation of 19 percent.

Housing, water, electricity subgroup recorded a staggering 38,9 percent and the transportation recorded inflation rate of 26,8percent.

Communications remained the lowest contributor at five percent.

On a geographic level, Ashanti Region recorded the highest inflation rate of 16,7 percent.

Greater Accra recorded 14,4 percent inflation and Upper West with the lowest rate of 9,5 percent.

Deputy Government Statistician at the GSS, Edward Afram Asuo, recommended government works on keeping low fuel prices, a key component of inflation.

“If we are able to do something about the fuel prices and utility prices, I think we will have a low inflation rate,” he said.

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