Inflation hits 23.5% as it resumes upward trajectory
Inflation went up marginally in January 2024 to 23.5% as it resumed the upward trajectory, data from the Ghana Statistical Service has revealed.
This follows five consecutive months of decline. Inflation stood at 23.2% in December 2023.
According to the GSS, the increase in year-on-year inflation was influenced by a sharp surge in non-food items including housing, clothing and transport. Non-food inflation increased to 20.5% in January 2024 from 18.7% in December 2023.
Food inflation, however, continued to decline. It fell marginally to 27.1% in January 2024 from 28.7% in December 2023.
For the month-on-month inflation, food inflation stood at 1.6%, whilst non-food inflation was estimated at 2.4%.
Seven divisions recorded inflation rates higher than the national average...
