Inflation rate rises slightly to 10.3 percent in February

Professor Samuel Kobina Annim
Professor Samuel Kobina Annim

The year-on-year inflation rate rises to 10.3 percent in February 2021 compared to 9.9 percent, 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 percent.

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 percent from the January rate of 7.7 percent.

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

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

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

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

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

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