Ghana Inflation Dips to 53.6% in January, First Fall Since May 2021

According to the Ghana Statistical Service, Ghana’s inflation rate in January decreased to 53.6 per cent, marking the first decline since May 2021.

The rate was 0.5 percentage points lower than the previous month’s figure of 54.1 per cent.

We saw a decline in non-food inflation to 47.9 per cent in January compared with 49.9 per cent in December. The 2.0 percentage point dip in non-food inflation led to a drop in the overall inflation rate.
Samuel Kobina Annim – Government statistician

According to his statement, in January, the food inflation rate rose to 61 per cent from the December figure of 59.7 per cent. In addition, locally produced and imported items experienced inflation rates of 50 per cent and 62.5 per cent, respectively.

Last year, Ghana encountered instability in its inflation calculation, with the rate escalating from 13.9 per cent in January 2022 to 54.1 per cent by the end of December.