In January 2024, there was a little increase in Ghana’s inflation rate, rising from 23.2 percent to 23.5 percent.
The subsequent decreases that were seen between July and December of 2023 have reversed themselves.
The rise in non-food inflation drivers, particularly lodging and apparel, is responsible for this modest acceleration in consumer prices.
However, over the reviewed period, food inflation continued to decline.
Barely a month has passed since the Central Bank lowered its monetary policy stance by 100 basis points due to a decline in inflation data, which prompted the unexpected surge.
On a regional basis, the Eastern Region recorded the highest rate of inflation of 37.1% driven by food prices.
The Greater Accra Region on the other hand posted the lowest rate of inflation of 18%.
