• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

Ghana’s Inflation rate for March 2020 remains unchanged, still at 7.8%

16/04/2020
Reading Time: 2 mins read
Inflation rate august
0
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

Latest figures released by the Ghana Statistical Service (GSS), indicates that Inflation rate for March 2020 is still at 7.8 percent.

This means the rate at which prices of goods and services change over a period of time was the same for the February figure of 7.8 percent.

It also means that the general price level was 7.8% higher than in March 2019.

Food and non-acoholic beverages

The food and non-alcoholic beverages component of the figures recorded a year-on-year inflation rate of 8.4 percent, indicating a 0.5 percentage point higher than last month.

This is the highest food inflation since the rebasing in August 2019, and translates in food being the predominant driver of year-on-year inflation, per the latest inflation figures.

Again, the price level of food and non-alcoholic beverages increased by 1.5 percent, between February 2020 and March 2020,

“Like last month, this rise is predominantly driven by an increase in price levels of vegetables and fruits and nuts,” the GSS said.

It also cited that transportation has become a less important contributor to inflation.

However, inflation of imported goods was 5.6%, while the inflation of local goods was 8.8% on average, indicating the highest rate of local inflation and the lowest rate of imported goods inflation since the rebasing in August 2019.

Additionally, the data indicates that, inflation for made in Ghana goods has been growing faster than that of the imported goods over the last 5 months.

The differential inflation rate between locally produced items and imported items was 3.3 percentage points.

Regional breakdown of inflation figures

For the regional inflation figures, five regions recorded inflation rates above the national average of 7.8 percent.

The regions are the Volta, Eastern, Western, Greater Accra and Northern Regions.

However, the Volta Region recorded the highest inflation of 9.2 percent.

The Eastern Region followed suit with 8.7 percent, while Western Region, Greater Accra and Northern 8.5, 8.3,  8.1 percent, respectively.

The Upper West Region, on the other hand, had the lowest year-on-year inflation rate of 3.7 percent.

However, the Greater Accra Region recorded the lowest regional inflation since the rebasing in August 2019.

Previous Post

ESLA pays GH¢581m to Debt Service Account

Next Post

Crude Oil prices sink on record breaking 19.2 million barrel Crude Build

Related Posts

Surge in cyber and ATM fraud, ghanatalksbusiness.com

How BoG is winning the fight against Cyber and ATM fraud

08/11/2021
New board for Bank of Ghana

BoG educates customers on dormant accounts

13/07/2021
Cedi to USD

Bank of Ghana to begin digital cedi pilot in September

12/07/2021
New board for Bank of Ghana

Bank of Ghana issues a new directive on captured ATM cards

01/07/2021
BoG maBOG, Policy rate, Lending rate,, ghanatalksbusiness.com

Why BoG is maintaining policy rate at 14.5% for the 5th consecutive time

02/02/2021
Policy rate at 14.5%, ghanatalksbusiness.com

Monetary policy rate maintained at 14.5% for the second time – BOG

29/09/2020
Next Post
Revenue from Oil and Gas industry, ghanatalksbusiness.com

Crude Oil prices sink on record breaking 19.2 million barrel Crude Build

financial aid

Five wealthy countries pledge $11.7 billion for IMF to aid poor countries

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2023 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2023 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In