For the fifth consecutive month, inflation in the country has continued its decline, reaching a rate of 23.2% for December 2023. This figure signifies that the general price level in December 2023 was 23.2% higher than in the same period of 2022.
According to the latest Consumer Price Index (CPI) data released on Wednesday, January 10, 2024, food inflation stood at 28.7%, while non-food inflation recorded 18.7%. The detailed breakdown indicates that locally produced items experienced an inflation rate of 23.8%, while imported items had a slightly lower rate of 21.9%.
Analyzing the regional impact, the Eastern region recorded the highest food inflation rate at 51.3%, while the Upper East region had the lowest at 18.8%. Notably, Greater Accra placed 14th among the 16 regions, registering a food inflation rate of 22.2%.
This continued decline in inflation rates provides a positive economic outlook and signals potential relief for consumers.
December inflation drops to 23.2% from 26.4%#CitiNewsroom pic.twitter.com/vh6jUnpEhf
— CITI FM 97.3 (@Citi973) January 10, 2024
