Monday, April 22, 2024

Inflation hits 54.1 per cent in December 2022

The country’s Consumer Price Inflation (CPI) rose to 54.1 per cent in December 2022 from 50.3 per cent   recorded in November, the Ghana Statistical Service (GSS) has revealed.

This represents a month-on-month change rate of 3.8 per cent between the inflation rates recorded in November and December.

The Government Statistician, Professor Samuel K, Annim  who announced this at a news conference in Accra said December’s inflation was driven by housing, water, electricity, gas and other fuels.

CPI measures changes in the price of a fixed basket of goods and services purchased by households

According to Prof Annim, food   recorded an inflation rate of 59.7 per cent from 55.3 per cent recorded the previous month and with a monthly rate of 4.1 per cent

He stated that non- food inflation recorded a rise from 46.5 per cent recorded in November to 49.9 per cent in December last year with a monthly inflation of 3.6

He mentioned that inflation for locally produced items were 51.1 per cent while that of imported items were 61.9 per cent.

For regional inflation, the Government Statistician said Greater Accra recorded the highest rate of 50.9 per cent while North East recorded the lowest rate of 0.9 per cent


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