COVID-19: Report shows inflation increased in April 2020 due to partial lockdown
- The latest report from the Ghana Statistical Service (GSS) shows that inflation increased to 10.6% for April 2020
- In March, it was 7.8% and the increase has been attributed to the economic effects of the partial lockdown
- The report also showed that both Greater Accra Region and Ashanti Region recorded average rates of inflation of 8.81% higher than other regions
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YEN.com.gh has learned that Ghana’s annual Consumer Price Inflation (CPI) increased to 10.6% in April from 7.8% in March 2020.
The increase, per information available, was as a result of higher food prices in areas affected by the partial lockdown imposed by the government.
This was contained in a report released by the Ghana Statistical Service (GSS) on Wednesday, May 13, 2020.
Source: UGC
READ ALSO: Ghana's informal sector recorded expansion in 2019; now worth GHC45.2 billion
Per a report by Reuters.com, GSS’s monthly report showed that the annualised rate and the increase from one month to the next were the highest since Ghana rebased its CPI in August 2019.
The monthly report indicated that both the Greater Accra Region and Ashanti Region recorded average rates of inflation 8.81% higher than other regions.
YEN.com.gh earlier reported that the GSS reported that Ghana’s economy grew by 6.5% in the year 2019.
This is according to revised estimates by the Service and has been compared with the 6.3% recorded in 2018 and 8.1% recorded in 2017.
The economy also recorded a growth of 5.8% of the Gross Domestic Product (GDP) for the non-oil sector.
READ ALSO: COVID-19: Ghana's informal sector recorded lowest GDP in 6 years
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Source: YEN.com.gh
