Data from the Ghana Statistical Service has revealed that inflation has returned to single digit of 8.5% in April 2021. The inflation figure fell remarkably to 8.5% from the 10.5% recorded in March 2021. This is the first single digit rate recorded in the year, following the ravaging effects of covid-19 on the economy.
This means increases in price of goods and services slowed down in April 2021, comparatively to March this year. However, it is higher than the rate recorded during the same period last year. Month-on-month inflation between March and April 2021 was however 1.5%. According to the figures, food inflation rate stood at 6.5%, lower than the 10.8% recorded in March 2021.
Non-food inflation rate however went up to 10.2% in April 2021, from 10.0% recorded in March 2021. Within the food group, Fruits and Nuts which recorded -0.4% inflation drove the April 2021 down. For the non-food inflation, Housing, water, Electricity and Gas recorded an inflation rate of 25%, down from 29% recorded in March 2021. It is actually the highest rate of inflation for April 2021. Transport (9.6%) and Insurance and Financial Services (9%) recorded inflation rates above the national average of 8.5%.
Also, the inflation for imported goods was 7.4%, up from 6.8% recorded last month, while the inflation for locally produced items was 8.7%, down from the 11.7% recorded last month.
Regional inflation
For the regions, the Greater Accra region recorded the highest inflation rate of 12.1% percent in April this year, but lower than that of March 2021. However, the region with the lowest rate of inflation was Upper West with inflation rate of 2%. Ashanti region was the other region apart from Greater Accra region with inflation rate of 10.1%, higher than the national average.
