Ghana records drop in inflation

Story: Business Desk

Ghana’s inflation has dropped marginally for the first time in 19 months.

Figures released by the Ghana Statistical Service revealed that for the month of January 2023, inflation dropped to 53.6% from the 54.1% recorded in December 2022.

Inflation has been on an upward trajectory since May 2021.

This means that in the month of January 2023, the general price level was 53.6% higher than in January 2022. Month-on-month inflation between December 2022 and January 2023 was 1.7%.

According to the statistical service, last month’s Food inflation was 59.7%

Month-on-month food inflation was 2.8% while non-food Inflation (0.563) was 47.9%. Last month’s Non-food inflation was 49.9%.

Month-on-month Non-Food inflation was 0.8% with inflation for locally produced items pegged at 50.0%. Inflation for imported items was also 62.5%

On a regional level, the Eastern region recorded the highest year-on-year inflation of 66.2% while Greater Accra followed with an inflation of 65%.

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