Inflation jumps to 23.5% in January

Ghana’s inflation witnessed a marginal uptick from 23.2 to 23.5 percent for January 2024.

This is a reversal of the consecutive declines recorded between July and December 2023.

This slight acceleration in consumer prices is attributable to the increase in Non-food inflation drivers mainly accommodation and clothing.

However, food inflation continued to ease during the period under review.

This unexpected increase comes barely a month after the Central Bank reduced its monetary policy stance by a hundred basis points on the back of the fall in inflation figures.

On a regional basis, the Eastern Region recorded the highest rate of inflation at 37.1% driven by food prices.

The Greater Accra Region on the other hand posted the lowest rate of inflation at 18%.

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