Ghana’s inflation has fallen marginally for the first time in 19 months. The country’s inflation has been on an upward surge since May 2021.
Data from the Ghana Statistical Service(GSS) indicates the rate of change of prices of goods and services fell slightly from 54.1 per cent in December 2022 to 53.6 per cent in January 2023.
According to the statistical service, last month’s food inflation was 59.7%.
The month-on-month inflation between December 2022 and January 2023 was 1.7%.
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%.
Volta region, however, recorded the lowest inflation of 34.7%. The figures show five divisions registered inflation higher than the national average.
They are Furnishings, household equipment (71.7%); Housing, water, electricity, gas and other (71.1%); Transport (68.8%); Personal care, social protection and miscellaneous services (63.1%) and Food and non-alcoholic beverages (61.0%).