Rate is lowest in five years

By Nsikan Ikpe

 

The inflation rate for April, 2018 in the West African nation of Ghana has recorded a drop to a single digit figure of 9.6 percent, The Difference has learnt.

 

This is a reduction from the 10.4 percent inflation rate that was prevalent in March, 2018.

 

Speaking at a press conference in Accra, the Acting Government Statistician, Baah Wadieh underscored that “this means that the general price level went up by 0.9% between March 2018 and April 2018.”

 

Significantly also, Wadieh also noted that the April 2018 rate of 9.6% is the lowest that has been witnessed in the country since January 2013, pointing out that the biggest contributors to this positive showing were Food and Non-food components.

 

“The food inflation rate for April 2018 was 7.4%, compared with 7.3% recorded in March 2018. The non-food inflation rate for April 2018 was 10.6% compared with 11.8% recorded in March 2018,” he explained.

 

Overall however, the Upper West, Brong Ahafo, Western, Northern, and Ashanti regions recorded inflation rates higher than the national average of 9.6%.

 

In particular, the Upper West Region recorded the highest year-on-year inflation rate of 11.7%, followed by Brong Ahafo Region (10.7%).

 

On the other hand, the Upper East Region recorded the lowest year-on-year inflation (8.2%) in April 2018.

 

 

President Nana Akufo Addo of Ghana

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