Ghana: Inflation hits over-six-year high in March
April 13, 2016
In March, consumer prices increased 1.65% over the previous month, which exceeded the 0.71% increase tallied in February. March’s increase was mainly driven by higher prices for food and non-alcoholic beverages as well as transport.
Inflation hit an over-six-year high of 19.2% in March, which followed February’s 18.5% reading. Thus, inflation moved further above the Central Bank’s target of 8.0%. Moreover, annual average inflation in March edged up from 17.6% in February to 17.8%. March’s surge in inflation partly reflects February’s 15% hike in fares of road transport operators, as higher transport fares impact almost all types of market activity.