Inflation for February 2025 has seen a slight decline, dropping to 23.1% from the 23.5% recorded in January, according to the Government Statistician, Professor Samuel Kobina Annim. This marginal reduction was primarily driven by a significant decrease in food inflation.
Speaking to journalists on Wednesday, March 5, Prof. Annim highlighted the consistent decline in food inflation over the past four months. “Between November 2024 and February 2025, food inflation has seen a month-on-month reduction of 2.0 percentage points, reflecting a steady decline in prices,” he noted. However, the February inflation rate still ranks as the third-highest recorded in the last ten months.
Food Inflation Trends
The overall food inflation for February was 28.1%, slightly down from 28.3% in January, marking a month-on-month drop of 1.8%. Despite the reduction, certain food categories still recorded notable price increases:
Vegetables, tubers, cooking bananas, and pulses: 28.1%
Ready-made food and other food products: 45.5%
Cereals and cereal products: 38.6%
Fish and seafood: 26.5%
These variations underscore the mixed impact of market dynamics on different food commodities.
Non-Food Inflation
Non-food inflation also saw a slight improvement, declining from 19.2% in January to 18.8% in February. This represents a month-on-month drop of 0.9%, reflecting moderated price increases in non-food items and services.
Regional Highlights
On a regional level, disparities in inflation rates remain prominent. The Upper West Region recorded the highest food inflation at a staggering 49.8%, along with the second-highest non-food inflation at 24.0%. The Savannah Region followed closely with a food inflation rate of 48.6%.
Prof. Annim emphasized the need for targeted interventions to address these regional disparities and maintain the downward trend in inflation rates. The government, he added, remains committed to implementing policies aimed at stabilizing prices and alleviating the burden on households.
The marginal reduction in inflation offers a glimmer of hope for economic stability, but it also calls for sustained efforts to manage both food and non-food inflation effectively.
Story by: Mercy Addai Turkson #ahotoronline.com
