Inflation in Ghana edged up to 3.4% in April from 3.2% in March, though it remains sharply lower than the 21.2% recorded a year ago, official figures show.
The latest Consumer Price Index data indicate that prices rose by 1.0% between March and April, suggesting that while overall inflation is still low, monthly price pressures are beginning to build again.
The Government Statistician, Dr Alhassan Iddrisu, said the increase was not broad based but driven by a few key areas, including housing, food and services, while many other prices remained stable or declined.
A notable shift is emerging in the source of inflation. Goods inflation slowed to 1.1% in April from 1.7% in March, but services inflation rose sharply to 9.6% from 7.2%. This points to growing cost pressures in services rather than goods.
Food inflation eased to 2.2%, while non food inflation rose to 4.2%, reinforcing signs that price increases are moving away from food items. At the same time, locally driven inflation fell to 4.7%, while imported inflation turned positive at 0.5%, indicating rising influence from external factors.
Officials say the main contributors to the increase in inflation were charcoal prices, rent payments and senior high school fees.
Despite the uptick, the overall rate remains significantly lower than last year, reflecting a continued easing of inflationary pressures, even as some costs begin to rise again.
Source: metrotvonline.com
