Inflation drops to 53.6% for the first time in 19 months

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Ghana’s inflation rate for January 2023 decreased slightly from the 54.1% recorded in December 2022 to 53.6%.

The latest figures from the Ghana Statistical Service (GSS) has indicated.

This drop would be the first in 19 months since inflation started rising constantly since May 2021.

However, on a month-on-month basis, prices of good between December 2022 and January 2023 rose by some 1.7%.

Eastern region recorded the highest inflation of 66% while the Volta region recorded the lowest inflation.

Food inflation (0.437) was 61.0% as compared with December’s food inflation of 59.7%. The non-food Inflation (0.563) was 47.9% as compared with the December’s non-food inflation of 49.9 %.

Also inflation for locally produced items was 50.0% and the inflation for imported items was 62.5%.

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