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

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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

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