Inflation rate for the month of February 2021 rose slightly to 10.3 per cent, recording a 0.4 percentage points increase over last month’s 9.9 per cent recorded inflation rate.
The month-on-month inflation between January and February, according to Professor Samuel Annim, head of the Ghana Statistical Service (GSS) was 0.8 per cent.
Adding the slight increase in the inflation rate was due to a rise in non-food inflation.
Non-food inflation rose to 8.8 per cent from the January rate of 7.7 per cent.
Food and non-alcoholic beverages inflation fell to 12.3 per cent from 12.8 per cent. On a month-on-month basis, food inflation was zero percent.
“With this rate, food contributed 52.6 per cent to overall inflation. This is the lowest since September 2020,” Professor Annim said.
Within the food division, vegetables with 17.4 per cent inflation remains the subclass with the highest rate of inflation but lower than last month’s rate of 20.3 per cent.
The difference between locally produced items which recorded 11.7 per cent inflation and imported items with 6.7 per cent stood at 5 per cent.
