January year-on-year inflation rate falls slightly to 53.6 per cent

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Accra-Ghana, Feb. 15, GNA – The year-on-year inflation fell, for the first time in 19 months, at 53.6 per cent in January 2023 from 54.1 per cent in December 2022, the Ghana Statistical Service said on Wednesday.
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, 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 61 per cent from the previous month’s food inflation of 59.7 per cent with the month-on-month food inflation at 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 while the Volta Region has the lowest regional inflation rate of 35.6 per cent.