Inflation Increases To 10.6% In February

The inflation for February 2018 reached 10.6 percent.

This represents a 0.3 percent rise in the inflation rate compared to the January 2018 inflation of 10.3 percent.

Inflation measures the average change over time in the general prices of goods and services purchased by consumers within a particular period of time.

The Acting Government Statistician, Baah Wadieh attributed the increase to the marginal rise in prices of some food items and marginal increase in fuel prices in February.

“We have inflation for non food items like transport, communication, housing, water, electricity among others as well as that of the broad group of foods, also going up. But the underlying factor is largely due to the base drift effect and the slight increase in fuel prices in February,” he explained.

In a related development, the inflation for food groups such as fruits and vegetables, meat and meat products, went up to 7.2 percent.

While inflation for non-food items such as transport, utility, education, among others went up to 12.2 percent.

Meanwhile the Upper West recorded the highest inflation of 11.7 percent with the Upper East region recording the lowest inflation rate of 8.1 percent.