The inflation rate of all goods and services remained unchanged at 7.8 percent for February 2020.
This is in spite of the fact that general prices of food and non-alcoholic beverages witnessed a marginal rise in the month of February compared to January 2020.
The Ghana Statistical Service cited food items such as vegetables, fruits and nuts and cocoa drinks as contributory factors to the food inflation rate of 7.9 percent.
Meanwhile, non-food items such as transport services, postal and courier services and narcotics, also recorded an increase in prices for the period under review.
Presenting the inflation figures to the media, Deputy Government Statistician in charge of Services, David Kombat, said the inflation rate for February shows a stable situation which is within the government’s target of 8 percent plus or minus 2.
“Alcoholic beverages, tobacco and narcotics top the list with 11.6%; followed by transport with 9.9%; recreation, sports and culture with 9%, clothing and footwear with 8.5%; food and non-alcoholic beverages recorded 7.9%. The least was recorded by the insurance and financial services with inflation rate of 0.4%,” he remarked.
Regional inflation figures
Meanwhile, on the regional inflation figures, the Greater Accra region recorded the highest inflation of 9.7 percent.
It was followed by the Volta and Western Regions with 9.5 and 8.3 percent respectively.
But the Upper West Region recorded the lowest inflation rate of 5 percent.
Mr. Kombat further highlighted the factors that accounted for Greater Accra’s high inflation rate for February 2020.
“The year on year inflation for February 2020 for Greater Accra for education services was 15.8%; recreation, sports and culture recorded 13.2%, clothing and footwear recorded 13.1%, and the least recorded is information and communication with an inflation of -0.4%.”
“For the year on year food inflation for Greater Accra, fish and other sea foods recorded the highest with an inflation of 26%, with the lowest being cereal products with inflation of -0.6%,” he concluded.