The year-on-year inflation for December 2023 has dropped to 23.2 percent from the 26.4 percent recorded in November in the same period. This marks the fifth consecutive monthly decline.
Consumer Price Index (CPI) for December 2023 was also 200.6 relative to 162.8 for December 2022.
“This means that in the month of December 2023 the general price level was 23.2 percent higher than December 2022. Month-on-month inflation between November 2023 and December 2023 was 1.2 percent,” Government Statistician, Prof. Samuel Kobina Annim explained presenting the Consumer Price Index (CPI) data at a press briefing in Accra.
He noted that food inflation continues to drive the overall inflation with a rate of 28.7 percent, while non-food inflation recorded inflation rate of 18.7 percent.
The Consumer Price Index (CPI) data also has it that inflation for locally produced items stood at 23.8 percent while inflation for imported items stood at 21.9 percent.
On regional basis, Eastern region recorded the highest food inflation rate of 51.3 percent while the Upper East recorded the lowest food inflation rate of 18.8 percent. Greater Accra placed 14th among the 16 regions recording a food inflation rate of 22.2 percent.
