Ghana inflation edges up to 10.6 pct y/y in Feb: stats office

0
489

ACCRA (Reuters) – Ghana’s annual consumer price inflation edged up to 10.6 percent in February from 10.3 percent the previous month, mainly driven by an increase in fuel prices, the statistics office said on Wednesday.

Ghana – a gold, oil and cocoa producer – is seeking to narrow inflation to 8 percent, plus or minus two percentage points by June under a $918 million credit programme with the International Monetary Fund which is in its final year.

“The underlying cause was due to a marginal increase in fuel prices which spilled over cross board to both food and non-food groups,” acting government statistician Baah Wadieh told a press conference in Accra.

Food inflation for February rose to 7.2 percent from 6.8 percent the month before while non food was edged up to 12.2 percent compared to 12.0 percent in January, Wadieh said.

Reporting by Kwasi Kpodo; Editing by Joe Bavier

SHARE
Previous articleSouth Africa’s Q1 business confidence rises 11 points to 45
Next articleFBNHoldings Appoints Ariyibi to FBNQuest Capital, Borodo to FBNQuest Trustees Boards
Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.