December inflation drops to 23.2% from 26.4%

For the fifth consecutive month, inflation has dropped, recording a rate of 23.2% for December 2023.

This means that in December 2023 the general price level was 23.2 percent higher than in December 2022

Month-on-month inflation between November 2023 and December 2023 was 1.2 percent.

According to the Consumer Price Index (CPI) data released on Wednesday, January 10, the food inflation stood at 28.7 percent and non-food inflation recorded 18.7 percent.

Inflation for locally produced items stood at 23.8 percent while inflation for imported items stood at 21.9 percent.

On the regional front, the 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.

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