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Ghana's April inflation drops to 18.7 pct

Xinhua, May 12, 2016 Adjust font size:

The year-on-year inflation rate for Ghana dipped 0.5 percentage points to 18.7 percent in April, down from 19.2 percent recorded in the previous month, the Ghana Statistical Service (GSS) announced here on Wednesday.

The monthly change rate for the period between March and April was 1.4 percent, compared with the 1.7 percent recorded for the period between February and March.

Deputy Government Statistician Baah Wadieh said inflation for food and non-alcoholic beverages group inched up 0.1 percentage points to 8.4 percent in April, compared with the 8.3 percent recorded in the previous month.

"The non-food inflation rate for April 2016 was 24.8 percent, compared with 25.7 percent recorded in March 2016," Wadieh said.

The year-on-year inflation rate for locally produced items went up 0.4 percentage to record 18.8 percent, relative to the 18.4 percent recorded for April.

"The main price drivers for the non-food inflation rate were transport (40.4 percent), housing, water, electricity, gas and other fuels (35.8 percent), education (30.9 percent) and recreation and culture (28.1 percent)," Wadieh added.

He explained that the base-drift effect of the housing, water, electricity, gas and other fuels group was what pulled down inflation magically in April.

For food inflation, the main price drivers were vegetables (11.2 percent), oils and fats (10.6 percent), fruits (10.0 percent), mineral water, soft drinks, fruit and vegetable juices (9.6 percent), and meat and meat products (8.5percent), said the GSS. Endit