Consumer price index Inflation for April records 16.8 percent

The inflation rate for the month of April increased slightly to 16.8% as compared to 16.6% in March.

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Government Statistician, Dr. Philomena Nyarko play

Government Statistician, Dr. Philomena Nyarko

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Inflation for the month of April has increased to 16.8 percent, a 0.2 per cent increase recorded in March as compared to 16.6 percent.

Dr. Philomena Nyarko, Government Statistician announcing the new figure on Wednesday in Accra said the trend in inflation between January and April – which averages 16.6 – indicates a move towards stabilization.

The year-on-year inflation rate for imported items was 19.7 per cent while that for locally produced items was 15.6 per cent.

According to Dr. Nyarko, high import tariffs and a weak exchange rate against major currencies accounted for the high prices of imported goods.

Central Region recorded the highest year-on-year inflation rate of 18.9 per cent while Eastern Region recorded the lowest of 14.1 per cent.

She explained that the year-on-year non-food inflation rate for April 2015 was 23.0 per cent which was the same as that recorded for January 2015 and that the main price drivers were Housing, Water, Electricity, Gas and other fuels and Transport.

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