Inflation for February drops to 23.2%

According to the latest data from the Ghana Statistical Service, there has been another decline in inflation, with the February recording 23.2%.

The figure represents a 0.3 percentage point decrease from the 23.5 percent recorded in January.

This was disclosed during a press briefing in Accra on Wednesday, March, 13, 2024.

Addressing the media, Government Statistician Prof. Samuel Kobina Anim explained that the 23.2 percent indicates an increase in the prices of goods and services.

“The February rate of inflation fell to 23.2 percent. This year-on-year inflation signifies that over a one-year period, prices of goods and services have gone up by 23.2 percent.

“This figure is a reversal of the marginal increase we recorded in the month of January 2024, when the 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.”

Meanwhile, the Consumer Price Index data released by the GSS, shows that food and non-food inflation stood at 27.0% and 20.0% respectively.

“From a food and non-food inflation perspective, food inflation 2024 stood at 27.0 percent and non-food inflation for the month of February 2024 stood at 20.0 percent.”