Inflation for the month of March 2014 hit a staggering 14.5 percent. The rate which is the highest in the past 4years increased from 14percent recorded in February.
The Inflation rate for the month of March was however 0.9 percent.
The food and non-alcholic beverages group recorded an increase in the year on year inflation rate from 7.5 percent to 8.2percent. The main drivers were mineral water and soft drinks which recorded 18percent and coffee, tea and cocoa subgroup which recorded 12.3 percent inflation.
The non-food group inflation rate increased from 19 percent to 19.2 percent in March. The group’s inflation rate was dominated by Housing, water, electricity which recorded an inflation rate of 43.8 percent. Transport subgroup also recorded an inflation rate of 27.3 percent.
Ashanti Region recorded the highest inflation rate of 17.1 while upper west recorded the lowest rate of 9.1 percent. The Greater Accra region recorded an inflation rate of 14.8 percent.
Click to read statement by the Ghana Statistical Service
By: Anim Kwaku Boadu/citifmonline.com/Ghana