Prime News Ghana

Inflation rises to 23.5% in January 2024

By Primenewsghana
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The inflation rate was up marginally at 23.5 percent year-on-year in January compared to 23.2 percent in December in 2023, the Ghana Statistical Service said on Wednesday.

This means that in January 2024 the general price level was 23.5 percent higher than January 2023.

Month-on-month inflation between December 2023 and January 2024 was 2.0 percent.

At a press briefing, Professor Samuel Annim, the Government Statistician said the Consumer Price Index for January 2024 was 204.5 relative to 165.6 for January 2023.


He said food inflation contributed 27.5 percent to all inflation compared to last month’s food inflation of 28.7 percent with the month-on-month food inflation being 1.6 percent.

Meanwhile, non-food inflation also contributed 20.5 percent, compared to last month’s non-food inflation of 18.7 percent with the Month-on-month being 2.4 percent.

Inflation for imported items was 21.9 per cent compared to that for locally produced items, which was 23.8 percent.

On the regional Inflation basis, the Eastern Region maintained the record of the highest inflation rate of 37.1 percent. The Greater Accra Region maintained the record of 14.4 percent as the lowest region.