The Ghana Statistical Service has released the latest data on inflation, which shows a reduction in the inflation rate. In February, the inflation rate stood at 23.2%, which is 0.3 percentage points lower than January’s figure of 23.5%.
During a press briefing held in Accra, the Government Statistician, Prof. Samuel Kobina Anim, provided a breakdown of the figures. He explained that the inflation rate of 23.2% represents an increase in the prices of goods and services over the past year.
Prof. Anim stated that the inflation rate had reversed a marginal increase recorded in January. He said, “This figure is a reversal of the marginal increase we recorded in the month slowdown that we have successfully recorded for the last seven months saw a marginal increase to 23.5 percent. In reverse, we have turned around this increase for January 2024 to a reverse of 23.2 percent.”
The Consumer Price Index data released by the GSS shows that food inflation and non-food inflation stood at 27.0% and 20.0% respectively in February. Prof. Anim added, “From a food and non-food inflation perspective, food inflation for February 2024 stood at 27.0 percent, and non-food inflation for February 2024 stood at 20.0 percent.”
Story by: Emmanuel Romeo Tetteh(#RomeoWrites) / Ahotoronline.com
