Inflation Dips To 23.3%

Ghana’s Consumer Price Inflation (CPI) currently stands at 23.2 per cent down from 26.4% in November 2023 per data from the Ghana Statistical Service (GSS).

Despite the national rate, alcoholic beverages, tobacco and narcotics; personal care, social protection; food and non-alcoholic beverages; furnishing, household equipment and routine household maintenance; and restaurants and accommodation services recorded rates higher than the national average in the December inflation review.

Food inflation recorded a 28.7% inflation rate, while non-food inflation recorded 18.7%. As locally manufactured goods recorded a 23.8% inflation rate, imported goods are 21.9%.

Regionally, the Eastern Region had the highest inflation rate at 51.3% while with the non-food products, the Western Region took the lead at 36%.

In general, in inflation terms, the Upper East Region recorded 30.0%, Upper East 25.7%, North East 28.0%, Northern 31.9%, Savannah 20.6%, Oti 17.7%, Bono East 21.5%, Bono 27.4%, Ahafo 17.4%, Ashanti 20.0%, Eastern 35.9%, Volta 31.8%, Greater Accra 16.0%, Central 21.5%, Western 34.3% and Western North 33.7%.