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Ghana's consumer price inflation for April drops to 8.5%

The year-on-year <a href="https://www.pulse.com.gh/news/local/bawumias-lecture-on-the-economy-full-of-misrepresentations-nii-moi-thompson/zzctsw2">consumer price inflation</a> for April 2021 has dropped to 8.5%.
Ghana market
Ghana market

According to the Ghana Statistical Service, an 18 percentage point lower than the rate recorded in March, and a month-on-month change rate of 0.6 percent, higher than the rate recorded in March.

The Government Statistician, Professor Kobina Annim said food inflation in the greater Accra region has significantly reduced as the impacts of COVID-19 begin to teeter off.

He said "April 2021 inflation was 8.5%. This shows that the effect of price hikes recorded at the onset of COVID-19 was waning and inflation almost at the pre-covid rates.

The food inflation for April dropped to 6.5% from 10.8 % in March, while the non-food inflation inched up from 10.2 percent to 10.0 percent in March.

He revealed that food inflation was decreasing in its contribution to total inflation to 33.8%, the lowest contribution observed since the Consumer Price Index basket was rebased in 2018.

He stated that fruits and nuts recorded a negative month-on-month inflation rate of 0.4% with water and cocoa drinks recording no change in month-on-month inflation, with vegetables recording the highest inflation rate of 6.4%.

For the non-food sector, he said housing drove the sector's contribution to inflation at 25.0%.

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