Inflation ends the month of February at 15.7%
Headline inflation ended the month of February at 15.7 percentage points.
The increase in inflation rate from the recorded 13.9 percentage points in January 2022, is attributed to the jump in food prices.
The year-on-year inflation rate of 15.7 percent according to the Ghana Statistical Service (GSS) is the highest since 2016.
The month-on-month inflation between January 2022 and February 2022 was 2.4%.
The recorded increment in the prices of food for last month confirms reports that food prices will continue to soar on the back of the ongoing war between Russia and Ukraine.
According to the GSS, drivers for the surge in inflation were Housing, Water, Electricity and Gas (25.4%); Transport (18.3%) as well as Food and Non-alcoholic beverages (17.4%).
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Food inflation regained its dominance, recording 17.4% year-on-year inflation, as against 14.5% by non-food inflation.
In January 2021, food inflation was 13.7% as against 14.1% for non-food inflation.
The items that contributed to the rise in inflation are Water (24.8%), Oils and Fats (23.5%) and Cereal Products (20.3%).
The inflation for imported goods was 12.9% which is higher than the 11.0% recorded for January 2022 while the inflation for locally produced items was 16.7%, up from the 15.0% recorded in January 2022.
At the regional level, the overall year-on-year inflation ranged from 11.6% in the Western Region to 19.5% in the Greater Accra Region.
Eastern Region recorded the highest month-on-month inflation (7.3%).
Upper East region recorded a negative month-on-month inflation rate in February 2022 (-0.9%).
