Inflation for the month of April shoots up to 14.7 percent from the 14.5 percent recorded in March 2014

inflationThe year on year inflation rate for April 2014, shot up to fourteen point seven percent as compared to the fourteen point five percent recorded in March 2014.

According to the Ghana Statistical Service, this rate of inflation represents a percentage change in the consumer price index over the twelve month period from April 2013 to April 2014 being the highest to be recorded since April 2010.

Addressing the media in Accra, the Deputy Government Statistician, Dr. Baah Wadieh disclosed that, the average prices of food and beverages shot up to 7 percent in April 2014.

According to him, the monthly change rate for April, 2014 was one point seven percent as compared to the zero point nine percent recorded in March 2014.

Meanwhile at the regional levels, the Ashanti region recorded the highest regional year on year inflation rate of 17.4 percent with the Upper West Region recording the lowest, being nine point eight percent.

The consumer price index measures the change overtime in the general price level of goods and services that households acquire for the purpose of consumption, with reference to the price level in 2012.

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