March inflation surges to 25.8% from 23.2% in February

This 2.6 percentage point rise, as revealed by Government Statistician Professor Samuel Kobina Annim on Wednesday, April 10, highlights a concerning trend in the country's economic landscape.

Professor Annim disclosed that the food inflation rate also experienced a sharp increase, climbing from 27.0 percent in February to 29.6 percent in March. In contrast, non-food inflation for March was reported at 22.6 percent, indicating a significant disparity between the two sectors.

Explaining the data, Professor Annim stated, “In the month of March 2024, the rate of inflation stood at 25.8%, showing a year-on-year increase from the 23.2% recorded in February 2024. This 2.6% surge in inflation is a cause for concern, with both food and non-food sectors experiencing a notable uptick in inflation rates between February and March 2024.”

The recent surge in inflation follows a slight decline in February, where the figure stood at 23.2 percent, representing a 0.3 percentage point decrease from the 23.5 percent recorded in January.

This fluctuation in inflation rates underscores the dynamic nature of economic conditions and the need for careful monitoring and policy responses to ensure stability and growth in the economy.