Bussiness
March inflation surges to 25.8% from 23.2% recorded in February
There has been a surge in Inflation from 23.2 in February to 25.8 in March.
This indicates a 2.6 percentage point surge.
This information was revealed by the Government Statistician Professor Samuel Kobina Annim on Wednesday, April 10.
It further revealed that the food inflation rate also shot up, moving from 27.0 per cent in February to 29.6 percent in March.
Meanwhile, non-food inflation for March was reported at 22.6 percent.
According to the Government Statistician, “In the month of March 2024, rate of inflation stood at 25.8 percent year-on-year inflation relative to 23.2 percent recorded for the month of February 2024. This indicates that we have seen a surge in the rate of inflation by 2.6 percent increasing from 23.2 percent to 25.8 percent for the month of March 2024.”
“Disaggregating this for the food and non-food perspective, the rate of inflation for food was 29.6 percent relative to non-food 22.6 percent. Both food and non-food inflation have seen a 2.6 percent increase in its rate of inflation between February and March 2024,” he added.
Meanwhile, there was a decline in inflation in February with the figure standing at 23.2 percent.
This represented a 0.3 percentage point decrease from the 23.5 percent recorded in January.
“Disaggregating this for the food and non-food perspective, the rate of inflation for food was 29.6 percent relative to non-food 22.6 percent. Both food and non-food inflation have seen a 2.6 percent increase in its rate of inflation between February and March 2024,” he stated.
By Edem Mensah-Tsotorme
Bussiness
Charterhouse announces the Business Elevate Series with launch of ‘The Gastro Feastival’
Charterhouse, Ghana’s leading event management and audiovisual production company, is marking its 25th anniversary of delivering top-tier events with the introduction of an exciting new initiative: The Business Elevate Series.
This innovative series is designed to shine a spotlight on key economic sectors through a series of dynamic B2B and B2C events, including industry conferences, seminars, and exhibitions.
Kicking off the series is The Gastro Feastival, a groundbreaking annual food industry festival that will showcase Ghana’s rich and diverse food ecosystem and agribusinesses from production to consumption.
The launch event will take place on Friday, March 7, 2025, from 4:00 PM to 6:00 PM at the Grand Arena (Accra International Conference Centre).
This landmark event will bring together food industry stakeholders, enthusiasts, experts, and organizations to highlight the food industry’s critical role in Ghana’s socio-economic development and culture.
It will also promote food security, digital innovation, women’s empowerment, youth employment in agribusiness, and sustainable practices.
The Business Elevate Series is a game-changing initiative designed to foster growth and transformation across multiple sectors. With Charterhouse’s deep expertise in organizing impactful meetings, the series aims to unlock investment opportunities, drive innovation, and catalyze social and economic change.
The Gastro Feastival will address six major pillars that drive industry transformation: Investment Opportunities; Job Creation; Innovation, Technology, and Digitization; Youth Involvement (entrepreneurship and career opportunities); Women’s Involvement; Environmental and Social Governance (ESG); Export Opportunities
The event will also establish a Resource Bank, spotlighting key growth opportunities and ensuring the effective allocation of resources to transform Ghana’s food industry.
The Gastro Feastival is a Charterhouse initiative, with Kosmos Innovation Centre as the technical partner.
Bussiness
Ghana’s GDP shows economy is fast recovering despite DDEP – Finance Ministry
Ghana’s Gross Domestic Product (GDP) indicates a rapid economic recovery despite global challenges and ongoing debt restructuring, according to the Ministry of Finance (MoF).
The Ministry in a statement today indicated that latest data from the Ghana Statistical Service (GSS), cumulative economic growth for the second quarter (Q2) of 2024 reached 6.9%, a notable increase from the 4.7% recorded in the first quarter of 2024.
The MoF statement further noted that, “The economy’s robust recovery is in response to the macroeconomic stability and growth interventions that government is pursuing under our IMF-supported Post Covid-19 Programme for Economic Growth (PC-PEG).”
According to them, the overall real GDP growth for the first half of 2024 rebounded strongly, with year-on-year GDP growth averaging 5.8% for the period, significantly higher than the 2.9% recorded in the same period in 2023.
By Edem Mensah-Tsotorme
Read full statement below
