This leads to Food inflation decreasing in its contribution to total inflation to 46.3%, the lowest contribution observed since February 2020.
Overall month-on-month Food inflation was 0.2%. Only Education Services recorded no change between February and March 2021, all other Divisions recorded positive month-on-month inflation.
Within the Food Division, Tea (16.7%) recorded the highest rate of inflation. Vegetables and Fish and Other Seafood recorded negative month-on-month inflation (-0.1% and -0.1% respectively) in March 2021.
In contrast to Food inflation, Non-Food year-on-year inflation on average went up this month compared to last month (from 8.8% to 10.0%). Out of the 13 Divisions, six had higher year-on-year inflation in March 2021 than the rolling average over the last 12 months.
Especially, housing recorded a high rate of inflation (29.0%).
In Greater Accra, a high rate of month-on-month inflation for Housing was recorded. This high rate can be attributed to an observed increase in rent prices. Average month-on-month Non-Food inflation was 1.4%. This is same as what was recorded for last month (1.4%).