Consumer inflation climbs to 10.6% in February  

The consumer inflation for February 2018 has moved up by 0.9 percent to 10.6 percent, after dropping to 10.3 percent in January.

The consumer price index (CPI) measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption.

In a press briefing, the Acting Government Statistician, Baah Wadieh explained that  “the rise was due to the increases in inflation rate for certain sub-groups, such as the transport, which increased by about one percent, communication, education, and housing; water, electricity, gas and other fuels, all recording increases in the inflation rate.”

The non- food group recorded rates of 12.2 percent in February, compared to 12.0 percent in January.

Four sub-groups recorded rates higher than the group average.

Wadieh said, “we also had inflation in the food and non-alcoholic beverage group also going up, as well as for the health group and miscellaneous goods and services.”

The food and non- non-alcoholic beverage group recorded rates of 7.2 percent, representing 0.4 percentage points higher than the rate recorded in January.

Six sub-groups recorded inflation rates higher than the group average of 7.2 percent.

Wadieh further noted that, “the underlining cause was due mainly to base drift effect and slight increases that were recorded in the prices for fuel.”

At the regional level, the inflation rate ranged from 8.1 percent in Upper East region to 11.7 percent in Upper West region.

Four regions, Upper West, Brong Ahafo, Greater Accra and Ashanti, recorded rates above the national average of 10.6 percent.

By Joshua W. Amlanu