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February Inflation drops to 13.2

inflation for the month went down marginally.

The month of February recorded an inflation rate of 13.2 percent, down from January’s 13.3 percent.

This means the prices of goods and services were fairly stable in February as the inflation for the month went down marginally.

The monthly change rate for February 2017 was 0.6 percent compared to the 2.8 percent recorded for January 2017.

The food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.1 percent. This is 0.1 percentage point higher than the rate recorded in January 2017.

Five subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 7.1 percent.

The non-food group recorded a year-on-year inflation rate of 16.4 percent in February 2017, compared to the 16.6percent recorded for January 2017.

Six subgroups recorded year-on-year inflation rates higher than the group’s average rate of 16.4 percent. Transport recorded the highest inflation rate of 23.3 percent, followed by Recreation and culture with 22.8 percent, Furnishings, household equipment and routine maintenance with 22.5 percent, Education with 19.6 percent, Clothing and footwear with 17.8 percent and Health with 17.1 percent.

Inflation was lowest in the Housing, water, electricity, gas and other fuels subgroup (7.1%).

At the regional level, the year-on-year inflation rate ranged from 11.4 percent in the Volta region to 14.1 percent in the Greater Accra region.

Five regions (Greater Accra, Upper West, Brong Ahafo, Western and Ashanti) recorded inflation rates above the national average of 13.2 percent.

Source: Starrfmonline

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