Inflation drops marginally to 53.6% in January

The rate of change in pric­es of goods and services fell slightly for the first time in 19 months from 54.1 per cent in December 2022 to 53.6 per cent in January.

The January rate drop of 0.5 percentage points was on the back of a fall in non-food inflation.

The month-on-month in­flation rate between December 2022 and January 2023 was 1.7 per cent.

Professor Samuel Kobina Annim, the Government Stat­istician, who announced this in Accra yesterday, said it meant that in the month of January 2023, the general price level was 53.6 per cent higher than January 2022.

The food inflation increased to 6.1 per cent from the previous month’s food inflation of 59.7 per cent, with the month-on-month food inflation being 2.8 per cent.

The non-food inflation dropped to 47.9 per cent from 49.9 per cent from the previous month. The month-on-month non-food inflation was 0.8 per cent.

The Government Statistician said inflation for locally produced items fell to 50.0 percent from 51.1 per cent, while inflation for imported items also rose to 62.5 per cent from 61.9 per cent.

The Greater Accra region maintained its records as the region with the highest inflation rate of 66.7 per cent, meanwhile the Volta Region maintained the records of having the lowest regional inflation rate of 35.6 per cent.


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