Inflation moves up marginally to 23.5% in January 2024

On February 14, 2024, 8:10 PM

Inflation increased marginally in January 2024 to 23.5% from 23.2% recorded in December 2023.

This follows five consecutive months of decline from July to December 2023.

Inflation was constant at 23.2% in December 2023.

According to the Ghana Statistical Service, the increase in year-on-year inflation was influenced by a sharp surge in non-food items, including housing, clothing and transport.

Food inflation, however, continued to decline.

The latest data announced by the GSS means that the general price level for January 2024 was 23.5% higher than January 2023.

It also suggests month-on-month inflation between December 2023 and January 2024 was 2%.

The Eastern Region recorded the highest inflation rate, 37.1%, driven by food prices, whilst the Greater Accra Region registered the lowest rate of inflation, 18%.