The February 2012 inflation rate fell to 8.6 percent, 0.1 percentage point lower than that of January (8.7 percent).
This rate of inflation is the percentage change in the consumer price index (CPI) over the twelve-month period from February 2011 (354.4) to February 2012 (385.0).
A copy of the monthly CPI update from the office of the Government Statistician, which stated this, said the monthly change rate was 1.5 per cent, adding that it marked the percentage change in the CPI over a period of one month (i.e. between January 2012 and February 2012).
Inflation rates recorded within the past twelve months were relatively stable.
The highest inflation rate of 9.2 per cent was recorded in February 2011 while the lowest of 8.4 per cent was recorded in July, August and September 2011.
Whereas the downward trend in inflation is attributable to the food and non-alcoholic beverages group, the non-food group inflation remained stable between 11.1 and 12.4 per cent since February 2011.
The food and non-alcoholic beverages group has been recording single digit inflation rate since January 2011 while the non-food inflation rate, on the other hand, recorded double digit inflation rates.
The food group has a weight of 44.91 percent.
Sub-groups with high inflation rates within this group were Coffee, tea and cocoa (14.0 percent); sugar, jam, honey, syrups, chocolate and confectionary (11.7 percent); meat (9.7 percent); and mineral water, soft drinks and juices (8.5 percent), relative to the average food inflation rate of 4.3 percent for February 2012.
The non-food group, with a weight of 55.09 percent, had major influence on the rate of inflation.
In February 2012, there was an appreciable inflation rate in transport (17.0 percent); miscellaneous goods and services (16.2 percent) and recreation and culture (14.1 percent) compared to the average February non-food inflation rate of 11.2 per cent.
Inflation rate in the regions ranged from 5.3 per cent (Upper East and West region) to 13.2 per cent (Central region). Three regions (Central, Western and Ashanti) recorded inflation rates above the national rate of 8.6 per cent.
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