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Inflation drops to 13.2%


Inflation has dropped from 13.3% in January, 2017 to 13.2% in February, 2017, recording a percentage point decrease of 0.1.

According to Mr. Baah Wadieh, the acting Government Statistician, the food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.1%. This is 0.1 percentage point higher than the rate recorded in January 2017 which was 7.0%.

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

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

Six subgroups recorded year-on-year inflation rates higher than the group’s average rate of 16.4%. Transport recorded the highest inflation rate of 23.3%, followed by Recreation and culture with 22.8%, Furnishings, household equipment and routine maintenance with 22.5%, Education with 19.6%, Clothing and footwear with 17.8% and Health with 17.1%. 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% in the Volta region to 14.1% in the Greater Accra region.

Meanwhile, five regions (Greater Accra-14.1%, Upper West-13.9%, Brong Ahafo-13.5%, Western-13.5% and Ashanti-13.4%) recorded inflation rates above the national average of 13.2%. Other regions are Central- 13.0%, Eastern- 12.9%, Northern- 12.6% and Upper East-12.2%.




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