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Ghana's Feb. consumer inflation slides to 18.5 pct

Xinhua, March 10, 2016 Adjust font size:

Year-on-year consumer inflation in Ghana slid by 0.5 percentage points to 18.5 percent in February, relative to the 19 percent recorded in January 2016, the Ghana Statistical Service announced here on Wednesday.

It said monthly change rate was 0.7 percent for the month of February, compared with the 4.6 percent recorded for the previous month.

Briefing the media, a Deputy Government Statistician, Anthony Amuzu said the food inflation for the month under review inched up by 0.1 percentage points to 8.3 percent, relative to the 8.2 percent recorded in January.

However, the non-food inflation rate for February was 24.5 percent, compared with 25.5 percent one month ago, the data showed.

The slight reduction in fuel prices in February and the reduction in electricity tariffs from 59 percent to 50 percent for lifeline consumers in February have helped reduce inflationary pressure for last month, Amuzu said.

He added that the stability and strengthening of the local cedi currency also helped to draw down inflation rate of imported items in the non-food inflation. Enditem