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Economy of Ghana Inflation rises to 10.6% in February

The inflation for February 2018 is a 0.3 percent increase compared to that of January 2018 which was 10.3 percent.

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The Consumer Price inflation (CPI) has increased to 10.6 percent in February 2018.

This is a 0.3 percent increase in the inflation rate compared to that of January 2018 which was 10.3 percent.

Announcing the inflation rate for February 2018, the Acting Government Statistician, Baah Wadieh said the inflation increase was due to the marginal rise in prices of some food items and a marginal increase in fuel prices in February.

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“We have inflation for non-food items like transport, communication, housing, water, electricity among others as well as that of the broad group of foods, also going up. But the underlying factor is largely due to the base drift effect and the slight increase in fuel prices in February.”

Food inflation increased to 7.2 percent from 6.8 percent in January.

Meanwhile, inflation for non-food items such as transport, utility, education, among others went up to 12.2 percent.

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The Upper West, Brong Ahafo, Greater Accra and Ashanti regions recorded inflation rate higher than the national average of 10.6 percent.

Upper West recorded the highest rate of 11.7 percent followed by Brong Ahafo with 11.4.

The Upper East region recorded the lowest rate of 8.1 percent.

Inflation measures the average change over time in the general prices of goods and services purchased by consumers within a particular period of time.

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