Inflation decline from 23.2% to 22.2%

For the seventh consecutive month, inflation has witnessed a decline, registering a rate of 23.2% in December 2023. This signifies a 23.2% increase in the overall price level compared to December 2022.

The monthly inflation between November 2023 and December 2023 was recorded at 1.2%, according to data released from the Consumer Price Index (CPI) on Wednesday, January 10. Food inflation stood at 28.7%, while non-food items experienced an inflation rate of 18.7%.

The inflation rate for domestically produced goods was 23.8%, contrasting with the rate for imported goods at 21.9%. Geographically, the Upper East region exhibited the lowest food inflation rate at 18.8%, while the Eastern region reported the highest rate at 51.3%. Among the 16 regions, Greater Accra ranked 14th with a food inflation rate of 22.2%.

Source:Omanghana.com