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Business News of Wednesday, 9 April 2014

Source: XYZ

Inflation hits 14.5 percent for March

Inflation for the month of March hit 14.5 percent. It is 0.5 percent higher than that of February 2014. It is the highest monthly jump in the past 4 years. The Inflation rate for March was 0.9 percent.

The food and non-alcoholic beverages group recorded an increase in the year on year inflation rate from 7.5 percent to 8.2 percent.

The main contributors include mineral water and soft drinks. They recorded a rate of 18 percent. The coffee, tea and cocoa subgroup recorded a rate of 12.3 percent.

The non-food group inflation rate increased from 19 percent to 19.2 percent for the same month. It was mainly driven by housing, water, and electricity which recorded a rate of 43.8 percent.

Transport subgroup also recorded a rate of 27.3 percent. The Ashanti Region recorded the highest inflation rate of 17.1 while the Upper West recorded the lowest rate of 9.1 percent. The Greater Accra region recorded a rate of 14.8 percent.