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Inflation rate for December 2023 drops to 23.2%

According to the Ghana Statistical Service (GSS) inflation for locally produced items was 23.8%, while that of imported items stood at 21.9%

The year-on-year consumer inflation rate for December 2023 has dropped significantly to 23.2% from 26.4% recorded in November 2023, the Ghana Statistical Service has announced.

According to figures from the Ghana Statistical Service, food inflation was the major contributor to the decline in the rate of inflation.

Addressing the media, the Government Statistician, Professor Samuel Kobina Annim said food inflation dropped by 32.2% to 28.7% in December 2023, and non-food inflation also eased to 18.7%, as compared with 21.7% in November 2023.

Prof Annim said inflation for locally produced items was 23.8%, while that of imported items stood at 21.9%.

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