The inflation rate falls for the fifth consecutive month to 23.2 per cent in December 2023 compared to 26.4 per cent in November, the Ghana Statistical Service said on Wednesday.

This means that in 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 per cent

Professor Samuel Anim, the Government Statistician at a press briefing, said the Consumer Price Index for December 2023 was 200.6 relative to 162.8 for December 2022.

Food inflation was at 28.7 per cent in December compared to 32.2 per cent the previous month with the month-on-month food inflation at 1.3 per cent.

Meanwhile, non-food inflation was also down at 18.7 per cent, compared to 21.7 per cent in November. The Month-on-month non-food inflation stood at 1.0 per cent.

Inflation for imported items was 29.1 per cent compared to that for locally produced items, which was 23.8 per cent.

On regional basis, the Eastern Region recorded the highest
inflation rate of 35.2 per cent while the Greater Accra Region was the region with the lowest inflation rate of 16.0 per cent.

Source: Ghana News Agency