Inflation rate for January up marginally at 23.5 per cent

The inflation rate was up marginally at 23.5 per cent year-on-year in January compared to 23.2 per cent in December in 2023, the Ghana Statistical Service said on Wednesday.

This means that in January 2024 the general price level was 23.5 percent higher than January 2023.

Month-on-month inflation between December 2023 and January 2024 was 2.0 per cent.

At a press briefing, Professor Samuel Annim, the Government Statistician said the Consumer Price Index for January 2024 was 204.5 relative to 165.6 for January 2023.

He said food inflation contributed 27.5 per cent to all inflation compared to last month’s food inflation

of 28.7 per cent with the month-on-month food inflation being 1.6 per cent.

Meanwhile, non-food inflation also contributed 20.5 per cent, compared to last month’s non-food inflation of 18.7 per cent with the Month-on-month being 2.4 per cent.

Inflation for imported items was 21.9 per cent compared to that for locally produced items, which was 23.8 per cent.

On the regional Inflation basis, the Eastern Region maintained the record of the highest inflation rate of 37.1 per cent. The Greater Accra Region maintained the record of 14.4 per cent as the lowest region.

Source:publisher24