The Ghana Statistical Service has reported a significant uptick in the country's inflation rate, reaching 25.8% in March 2024. This marks a notable increase from the previous month's rate of 23.2%, indicating a substantial rise in the general price level compared to the same period last year.
According to Professor Samuel Annim, the Government Statistician, food inflation rose to 29.6% in March, up from 27% recorded in the previous month. Non-food inflation also saw an increase, reaching 22.6% compared to the previous month's rate of 20%.
The inflationary pressure extended to imported items, with a reported inflation rate of 23.8%, while locally produced items experienced a higher inflation rate of 26.6%.
Regional disparities were evident, with the Upper East region recording the highest inflation rate at 42.9%, while the Oti Region registered the lowest at 14.3%.
These figures highlight the challenges faced by consumers and businesses in Ghana amid rising inflationary pressures, particularly impacting food prices. The Government Statistician emphasized the need for careful monitoring and appropriate policy responses to mitigate the adverse effects of inflation on households and businesses nationwide.