Inflation for March 2024 increased to 25.8% from the 23.2% recorded in February 2024, indicating a 2.6 percentage point increase.
According to figures from the Ghana Statistical Service(GSS), non-food inflation went up by 22.6%, while food inflation increased to 29.6%
Locally produced items and imported items went up by 26.6% and 23.8% respectively.
Food, non-alcoholic beverages, and transport were identified as the main drivers of the increase in overall inflation for March 2024.
Speaking to journalists at a press briefing, Government Statistician Prof. Samuel Kobina Annim made the disclosure on Wednesday, March 10.
“In the month of March 2024, rate of inflation stood at 25.8%, year-on-year inflation relative to 23.2 % recorded for the month of February 2024. This indicates that we have a seen a surge in the rate of inflation by 2.6%, increasing from 23.2% to 25.8% for the month of March 2024.”
“Disaggregating this for the food and non-food perspective, the rate of inflation for food was 29.6% relative to non-food 22.6%. Both food and non-food inflation have seen a 2.6% increase in its rate of inflation between February and March 2024,” he stated.
There was a decline in inflation in February 2024 with 23.2%, which represented a 0.3 percentage point decrease from the 23.5% recorded in January.